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ARM Rates Inch Lower 

May 14, 2009By

Fixed mortgage rates remained virtually unchanged in the week ending May 14, but hybrid adjustable-rates inched lower, according to Freddie Mac’s [stock FRE][/stock] Primary Mortgage Market Survey released today. Thirty-year fixed-rate mortgages averaged 4.86% with an average 0.6 point, up slightly from last week’s 4.84% average. The 15-year Fixed-rate mortgage rose from an average 4.51% to 4.52% this week.

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