Interest Rates Stall

Long-term mortgage interest rates were unchanged Friday, and the benchmark 10-year Treasury bond yield rose to gain .175 percent.

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Uptick in Home Sales

Sales of new homes jumped up 4.1 percent last month according to a joint report by the U.S. Census Bureau and the Department of Housing and Urban Development. Although the number was an improvement over the prior month's, it was slightly below that of the same month last year, which had record sales recorded.

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30-Year Rate Drops

RISMEDIA, May 5, 2006 - The current rate or 6.31 percent is down from last week, when it averaged 6.40 percent. Last year at this time, the 30-year fixed-rate mortgage averaged 5.91 percent. This is the lowest the 30-year fixed-rate mortgage has been since the week of March 2, 2006, when it averaged 6.24 percent.
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