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| Above graph from Bankrate.com |
The national average for mortgage rates remained historically low as of June 7, 2012. According to Bankrate.com, the 30-year fixed rate mortgage was at 3.92 percent. The 15-year mortgage was at 3.16 percent, while the jumbo mortgage was at 4.46 percent. The 5/1 ARM was at 2.99 percent. According to Zillow Mortgage Marketplace, rates in Colorado for the 30-year fixed rate mortgage were from 3.57 to 3.59 percent. Freddie Mac pegged that national average for the 30-year fixed mortgage at 3.67 percent. There are a number of factors that economists link to the continuous slide of mortgage rates: struggling labor market, euro zone challenges, and the weak GDP report.
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