Mortgage Rates Drop - 2004-02-14
The average rate on 30-year mortgages dropped to 5.66 percent, down from 5.72 percent last week, Freddie Mac, the mortgage giant, announced on Thursday in its weekly nationwide survey.
For 15-year mortgages, a popular option for refinancing, rates declined to 4.96 percent this week, down from 5.03 percent last week.
Rates for one-year adjustable mortgages decreased to 3.57 percent, compared with 3.61 percent last week.
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