The average 30-year fixed mortgage rate fell from 6.26% to 6.24% for the seven-day period ended Nov. 8, according to Freddie Mac's Primary Mortgage Market Survey.The average 15-year fixed mortgage rate fell from 5.91% to 5.90%, the average rate for five-year Treasury-indexed hybrid adjustable-rate mortgages declined from 5.98% to 5.89%, and the average rate for one-year Treasury-indexed ARMs decreased from 5.57% to 5.50%, Freddie Mac reported. Fees and points averaged 0.4 of a point for 30-year fixed-rate mortgages, 0.5 of a point for 15-year fixed-rate mortgages and hybrid ARMs, and 0.6 of a point for one-year ARMs. "Reports of weaker consumer spending in September and a decline in manufacturing activity in October kept mortgage rates at bay this week," said Frank Nothaft, Freddie Mac's chief economist. "Rates for long-term mortgages were little changed while rates for ARMs fell following the Federal Reserve's interest rate cut." A year ago, the average 30-year and 15-year fixed rates were 6.33% and 6.04%, respectively, and the average hybrid and one-year ARM rates were 6.08% and 5.55%, Freddie Mac said. Freddie can be found online at http://www.freddiemac.com.

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