The 30-year fixed-rate mortgage averaged 6.26 percent for the week ending Nov. 1, its lowest point since May, compared with 6.33 percent a week earlier, and 6.31 for the same period a year ago. The five-year Treasury-indexed adjustable-rate mortgages averaged 5.98 percent for the week, down from the previous week from 6.03 percent, and 6.05 for the same period a year ago.
"Continued market concerns about weaker economic growth and further declines in the housing market have kept mortgage rates low over the last few weeks," said Frank Nothaft, Freddie Mac vice president and chief economist.
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