East Bay Business Times - 2:29 PM PDT Thursday
by Jeff Clabaugh
Long-term mortgage rates have dropped in eight of the last nine weeks, but buyers are still on the sidelines.
Freddie Mac's weekly rate report puts the average 30-year fixed-rate mortgage at 6.31 percent, down from 6.4 percent last week. It is the lowest 30-year mortgages have been since early March. One year adjustable-rate mortgages averaged 5.47 percent this week, down from 5.54 percent last week.
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