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Mortgage rates ease for Friday – The average for a 30-year fixed-rate mortgage declined, but the average rate on a 15-year fixed trended upward. On the variable-mortgage side, the average rate on 5/1 adjustable-rate mortgages receded.
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Mortgage Rates – Today's Rates from Bank of America – Also called a variable-rate mortgage, an adjustable-rate mortgage has an interest rate that may change periodically during the life of the loan in accordance with changes in an index such as the U.S. Prime Rate or the London Interbank Offered Rate (LIBOR). Bank of America ARMs use LIBOR as the basis for ARM interest rate adjustments.
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Current Mortgage Rates | Bankrate – Lenders charge interest on a mortgage as a cost of lending you money. Your mortgage interest rate determines the amount of interest you pay, along with the principal, or loan balance, for the term.