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current mortgage ratesOver the course of the last year and a half, the National average mortgage rates have remained more or less the same, with fluctuations not exceeding more than a percentage point or so. In terms of the somewhat generic 15-year fixed rate mortgage option, the largest swing since January 2003 came in August of 2003, when the National average interest rate jumped from 5.14% (July 2003) to 5.77%, a difference of +0.63%. The lowest available National average interest rate since January of 2003 (15-year FRM) came in June of 2003, when the interest rate dipped below 5% to 4.84%. For some people, this might have signaled a good time to look into refinancing, especially when considering the fact that within 2 months, the average rate jumped back up to 5.77%.
* Source: HSH Associates www.hsh.com .................................................................................................................................. Compare & contrast with past MORTGAGE RATES
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