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Mortgage rates creep higher
30-year rises to 5.7%, edging away from 6-month low hit last week.
November 4, 2004: 12:19 PM EST

Mortgage Rates
30 yr fixed 3.99%
15 yr fixed 3.06%
5/1 ARM 3.20%
30 yr refi 3.99%
15 yr refi 3.07%

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Rates provided by Bankrate.com.

NEW YORK (CNN/Money) - Mortgage rates tipped modestly higher this week, Freddie Mac reported Thursday.

"The slight increase in mortgage rates this week was due in large part to volatility in long-term bond yields," said Frank Nothaft, Freddie Mac chief economist. "The uncertainty in bond yields reflected weakness in the manufacturing industry that was offset by economic reports of strength in the service sector.

The rate on 30-year fixed-rate mortgages averaged 5.7 percent in the week ended Thursday, with an average 0.6 of a point payable up front, down from an average 5.64 percent last week.

A year earlier, the rate on the 30-year fixed-rate loan stood at 5.94 percent.

The 15-year mortgage rate rose to 5.08 percent this week from 5.01 percent last week, also with 0.7 of a point up front. Last year, the average rate stood at 5.26 percent.

One-year adjustable rate mortgages (ARMs) averaged 4 percent, up from 3.96 percent the previous week, with 0.6 of a point payable up front.

At this time last year, the average rate for ARMs was 3.74 percent.

"When taken as a whole, this week's economic data point towards both low mortgage rates and a growing economy, both of which are good news for current homeowners looking to refinance and for families hoping to become homeowners," Nothaft added.

Freddie Mac's (down $0.23 to $65.76, Research) average mortgage rates are based on a survey of 125 lenders nationwide.  Top of page




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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer.

Morningstar: © 2014 Morningstar, Inc. All Rights Reserved.

Factset: FactSet Research Systems Inc. 2014. All rights reserved.

Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved.

Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2014 and/or its affiliates.