Mortgage rates decline for Thursday – multiple key mortgage rates were down today. The average rates on 30-year fixed and 15-year fixed mortgages both tapered off. The average rate on 5/1 adjustable-rate mortgages, meanwhile, also dropped.
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10-Year ARM Mortgage Rates. A ten year adjustable rate mortgage, sometimes called a 10/1 ARM, is designed to give you the stability of fixed payments during the first 10 years of the loan, but also allows you to qualify at and pay at a lower rate of interest for the first ten years.
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Mortgage rates continue their slide, while the Fed raises its benchmark rate – The 30-year fixed rate has fallen 32 basis points the past five weeks. while the purchase index dropped 7 percent. The refinance share of mortgage activity accounted for 43.5 percent of all.
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Royal Bank cuts 5-year fixed mortgage rate, others likely to. – James Laird, president of mortgage brokerage Canwise Financial, calculates a $400,000 mortgage at the old five-year fixed rate of 3.89 per cent would cost a homeowner about $2,080 a month.
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