Washington, DC – September 27, 2012 – (RealEstateRama) — The Federal Housing Finance Agency (FHFA) today reported that the National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders, used as an index in some adjustable-rate mortgage (ARM) contracts, was 3.56 percent based on loans closed in August. There was a decrease of 0.10 percent from the previous month. In March of 2012, FHFA began calculating interest rates using un-weighted survey data.
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