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Fixed mortgage rates up a bit; 5-year hybrid loan at record low

By Mike in with 0 Comments

Five year hybrid adjustable loans, which have a fixed rate for the first five years, were being offered at initial rates averaging 3.07 percent this week, Freddie Mac said in a report Thursday, down a touch from the previous record of 3.08 percent. The borrowers would have paid 0.5 percent of the loan amount to lenders in upfront fees.