Mortgage rates remain near record lows - Los Angeles Times
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Mortgage rates remain near record lows

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Mortgage interest rates moved slightly lower this week, according to housing finance giant Freddie Mac, with lenders offering 30-year fixed-rate home loans to solid borrowers at an average of 3.39%, compared with 3.41% last week.

The 15-year fixed mortgage, often used by refinancers seeking to pay off their housing debt faster, dropped from 2.72% last week to 2.7%. The rates are hovering near the all-time lows of 3.36% for the 30-year and 2.66% for the 15-year, set last month.

Borrowers would have paid an average of 0.7% of the loan balance in upfront fees to the lender to obtain the rates, Freddie Mac said in its weekly report on mortgage pricing,

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Start rates on variable mortgages also edged down, the report showed.

Freddie Mac asks lenders Monday through Wednesday about the terms they are offering creditworthy borrowers with at least a 20% down payment or 20% equity if they are refinancing their loans. Costs for third-party services such as appraisals and title insurance are not included.

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