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Monday, January 30, 2006

Market Rates

Freddie Mac's latest survey reports the 30-year fixed-rate mortgage (FRM) averaged 6.12 percent this week, up from last week's average of 6.10 percent. Last year at this time, the 30-year FRM averaged 5.66 percent.

"Keep in mind, however, long-term rates are still below December's monthly average and continue to fuel the housing market. Last week, mortgage applications for home purchases were stronger than last December's average. Even refinancing activity remains strong, averaging around 43 percent of all mortgage applications."

Preferred Service Mortgage


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