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Fixed-rate mortgage rates dropped 0.2 percentage points...

Fixed-rate mortgage rates dropped 0.2 percentage points last week, and adjustable-rate deals rose 0.12 percentage point, the Federal Home Loan Mortgage Corp. said. The agency, which buys mortgages from lenders and packages them as securities for sale to investors, said interest on fixed-rate loans dropped to 10.65% from 10.67% the week before. Adjustable-rate mortgages averaged 8.16%, up from 8.04% last week. The fixed-rate average is for a 30-year loan covering 80% of a home’s cost. The average adjustable-rate mortgage also is for 30 years but for 75% of the home price.


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