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The 30-year fixed mortgage rate fell to 6.15 percent this week from 6.16 percent, marking the third weekly decline in four weeks.
The Freddie Mac report also shows a jump in the one-year adjustable mortgage rate to 5.48 percent from 5.42 percent, while the five-year adjustable rate climbed to 5.89 percent from 5.87 percent.
The 15-year fixed rate, however, held steady at 5.87 percent.
“Low employment growth in April — the slowest pace since November 2004 — and downward revisions to both February and March job growth tempered market concerns of future increases in the rate of inflation,” says Freddie Mac Chief Economist Frank Nothaft.
Source: Baltimore Sun (05/11/07)
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