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 June 02, 2007

Mortgage Interest Rates Reach Highest Level since August
Mortgage rates have been on the rise for the fifth consecutive week. The average 30 year fixed mortgage rate reaching its highest level since August last year.
Currently, the rate for an average 30 year fixed rate mortgage is 6.47%, and has an average of 0.26 origination and discount points.

The average 15 year fixed rate mortgage, which is widely utilized for refinancing needs, has increased by a similar amount to a level of 6.21% With larger loan amounts, the average rate of a jumbo 30 year fixed rate mortgage went up to 6.68% The 5/1 ARM climbed to 6.37%

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