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Fixed Mortgage Rates Hold Steady; Adjustable Rates Fall Sharply 

Jun 05, 2008By

During a week when mortgage applications took a nose dive, average mortgage rates tended to hold tight as inflation concerns dominated bond investors’ attention. According to a weekly rate survey compiled by Freddie Mac [stock FRE][/stock], rates for a 30-year fixed-rate mortgage averaged 6.09 percent with an average 0.6 point for the week ended June 5 — up only one basis point from last week. Rates remain higher than one-year ago, however: the GSE said that the 30-year FRM average 6.53 percent at this time last year.

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