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RATES FALL: Results of Bankrate.com's
30-YEAR FIXED 15-YEAR FIXED 5-YEAR ARM
This week's rate: 6.28% 5.86% 5.82%
Change from last week: -0.05% -0.05% -0.08%
Monthly payment: $1,019.15 $1,379.91 $970.25
Change from last week: -$5.38 -$4.44 -$8.43
Most mortgage rates drop, creating refi opportunity
By Holden Lewis • Bankrate.com
Get out the toothpicks and prepare to use them to prop your eyelids open. We're going to talk about the yield curve. Few two-word phrases are more snooze-inducing, but you risk losing moolah if you doze through this interlude, which might be brief.
The yield curve inverted this week. This rare occurrence creates a refinancing opportunity for some homeowners who have hybrid adjustable-rate mortgages, interest-only home loans, or equity lines of credit. Home buyers should pay attention, too.
"It means go and get your fixed-rate right now," says Ellen Bitton, president of Park Avenue Mortgage, based in
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