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Mortgage Rates Decline but One Year ARM Rates Go Off the Chart
By admin | August 29, 2007
Mortgage rates in general took a fairly substantial dive during the previous week with longer term rates dropping double digits in most cases and some rates returning to mid-2006 levels. However, the Mortgage Bankers Association reported a spectacular increase in the interest rate of the one-year adjustable rate mortgage (ARM).
Topics: Mortgage News |