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Weekly Mtg. Rates
  30 Year Fixed 3.92 %
  15 Year Fixed 3.16 %
  1 Year ARM 2.79 %
Freddie Mac Natl. Avg.
Updated 3/15/2012

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Interest-only loanThe pays only the interest that accrues on the loan balance each month. Because each payment goes toward interest, the outstanding balance of the loan does not decline with each payment .
 


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