The benchmark 30-year fixed-rate mortgage fell 10 basis points, to 5.7 percent, according to the Bankrate.com national survey of large lenders. A basis point is one-hundredth of 1 percentage point. The mortgages in this week's survey had an average total of 0.48 discount and origination points. One year ago, the mortgage index was 6.53 percent; four weeks ago, it was 5.65 percent.
The benchmark 15-year fixed-rate mortgage fell 9 basis points, to 5.07 percent. The benchmark 5/1 adjustable-rate mortgage fell 9 basis points, to 5.17 percent.
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