WASHINGTON Average mortgage rates declined closer to historic lows this week, a trend that has helped drive a rebound in home sales.
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The average for the 30-year mortgage dipped to 3.51% this week, from 3.56% last week, according to Freddie Mac. That is close the record low 3.31% percent rate reached in November.
The average rate on the 15-year fixed mortgage slipped to 2.76% from 2.77% last week. The record low is 2.63%.
ARM rates also declined slightly, with the one-year ARM average moving down to 2.64%, from 2.65%; and the five-year ARM rate dipping to 2.61%, from 2.64%.
