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30-Year Mortgage Rates Remain Below 6%

WASHINGTON -U.S. 30-year mortgage rates stayed below 6% for a record fourth consecutive week, as of the week ending Jan. 17, Freddie Mac said in its latest survey that it's conducted since 1971. As of the end of the week of Jan. 17, 30-year mortgage rates were an average 5.97%....

By Staff Writer | Updated on January 28, 2003

WASHINGTON -U.S. 30-year mortgage rates stayed below 6% for a record fourth consecutive week, as of the week ending Jan. 17, Freddie Mac said in its latest survey that it’s conducted since 1971. As of the end of the week of Jan. 17, 30-year mortgage rates were an average 5.97%. Rates on 30-year mortgages averaged 5.95% for the previous week. Fifteen-year rates were an average 5.36% for the week ended Jan. 17, compared to 5.33% the previous week. One-year adjustable rate mortgages were unchanged from the prior week – 4.03%. Freddie Mac Chief Economist Frank Nothaft cited, in a statement, “disappointing retail sales, a struggling manufacturing sector and mild business investments” as the causes behind the continuing low mortgage rates.

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