Average Rate Drops For Home Mortgages

WASHINGTON -- The average interest rate for a 30-year fixed mortgage was 9.17% for the week ended Aug. 23, down from 9.19% the previous week, the Federal Home Loan Mortgage Corp. said.

The average adjustable-rate mortgage was 7.03%, down from the previous week's 7.05%.

Lenders charged an average of 1.9% in fees and points on fixed-rate loans, unchanged from the week before.

They charged 1.9% in fees and points on adjustable-rate mortgages, also unchanged from the previous week, Freddie Mac said.

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