MCLEAN, Va., Nov. 8 U.S. mortgage rates were reported down this week to their lowest level since May.
Freddie Mac, the Congress-created corporation to aid homeowners, said in its weekly mortgage survey that the main reasons for lower rates were weaker consumer spending in September and a decline in manufacturing in October.
The survey said the 30-year fixed-rate mortgage averaged 6.24 percent with an average 0.4 point this week, down from last week's 6.26 percent.
The 15-year fixed-rate mortgage this week averaged 5.90 percent with an average 0.5 point, down from last week's 5.91 percent.
Five-year Treasury-indexed hybrid adjustable-rate mortgages averaged 5.89 percent this week, with an average 0.5 point, down from last week's 5.98 percent.
One-year Treasury-indexed ARMs averaged 5.50 percent this week with an average 0.6 point, down from last week's 5.57 percent.
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