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Wednesday, August 24, 2005

Market Rates Today

30 yr mortgages: 5.8%
15 yr mortgages: 5.4%
5/1 Arm mortgages: 5.34%

Freddie Mac chief economist Frank Nothaft: "Mortgage rates can fluctuate from week to week depending on market conditions and expectations. Long-term rates are at about the same low level they were at this time last year. So it isn’t surprising that the housing industry continues to thrive."

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