Mortgage rates drop again...its not too late to refinance

Mortgage rates dropped again this week. The average rate on 30-year fixed-rate mortgages fell from 5.77 to 5.71. At this time last year it was 6.30.

The average rate of 15-year mortgages is now 5.27, down from 5.33 last week. At this time last year it was 5.67.

If you are currently paying higher rates, you should consider refinancing. You can compare rates with different lenders with Lending Tree.

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