Mortgage rates mostly lower; ARM hits another record low - 2004-03-19
Mortgage rates mostly dropped again this week, with the benchmark 30-year mortgages approaching last year's rates, which were the lowest in more than four decades. Rates for one-year adjustable mortgages established a record low.
The average rate on 30-year, fixed-rate mortgages dipped to 5.38%, mortgage giant Freddie Mac reported Thursday in its weekly nationwide survey of mortgage rates.
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