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Mortgage Interest Rates Continue to Drop

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The interest rate on the average 30 year home mortgage with zero points dropped 1/8 of a percentage point today, down to 5-3/4 percent. If the home mortgage market continues in its current direction, interest rates should remain at this level. The 30 year mortgage interest rate with one pre-paid point dropped 1/8 of a point to 5-1/2 percent. The 30 year mortgage interest rate with two pre-paid points dropped 1/8 of a point to 5-1/4 percent.

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