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Interest rates attractive for borrowers

Modified: Tuesday, Jul 15th, 2014

Long-term mortgage interest rates have remained in a narrow, yet appealing range this year, in turn making borrowing costs more palpable to buyers looking to finance their homes.

The benchmark 30-year, fixed mortgage rate has fluctuated between 4.12 percent and 4.53 percent this year, according to Freddie Mac, the Virginia-based lending giant.

The long-term national rate peaked this year at 4.53 percent on Jan. 2, and eased steadily until hitting its lowest point on May 29 at 4.12 percent. The 30-year rate subsequently climbed from that point to 4.20 percent on June 12 before revisiting the 4.12 percent mark on July 3.

Most recently, the 30-year rate measured 4.15 percent with an average of 0.7 point for the week ending July 10. A point is a fee lenderís charge with one point equaling 1 percent of the total loan.

For the complete article see the 07-16-2014 issue.

Click here to purchase an electronic version of the 07-16-2014 paper.

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