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Mortgage Rates Update > 4/2/2013

Mortgage rates remained flat over the last week as recent improvements as indicators showed a slowdown in the economic recovery.  30-Year Fixed-Rate Mortgage rates began the new week at the same levels as the previous week, in the average range of 3.8% and 15-Year mortgage rates also remained unchanged at 3.05%.  5/1 ARM mortgage rates stuck near their record lows at 2.7%.

While the American economy does continue to grow, all indications are that it will continue at a very slow pace.  This suggests that average mortgage rates may remain near present levels for an extended period.  Current mortgage rates are still near record low levels so we look for them to creep slightly higher over the near term.

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