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A history of the 30 yr, 15 yr, 5/1 arm, 30 yr. jumbo, 15 yr jumbo and 7/1 jumbo for the year 2010, with the explaination of the cause for the rates to rise and fall throughout the year. The article ends with an indication of where rates are heading. There is a chart showing the rates in the above categories and their fluctuation within the year.
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Tuesday, January 4th, 2011 at 4:27pm.162 Views, 0 Comments.
Frank Northaft, Vice President and chief economist , Freddie Mac&
"Interest rates on fixed mortgages and the five-year ARM rose slightly over the holiday week, but were still below the year's high s set in the first half of 2010. For the year as a whole, 30-year fixed mortgage rates averaged just below 4.7 percent, which represented the lowest annual average since 1955 when secondary market yields on FHA mortgages were above 4.6 percent and the average price of a home was $22,000".