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Top Mortgage Rates Decline This Month

The average cost of a 30-year, fixed-rate mortgage fell to 5.52% this week.

But the best deals in the 10 cities we surveyed this month range from 5.125% to 4.875% for a traditional home loan.

As the summer rolls on, the best deals on home loans keep getting better.The results are just a little bit better than our July mortgage rate survey, which found the best deals were from 5% to 5.25%.

We were looking for what we consider to be the best mortgage for most purchases and refinancings: A 30-year, fixed-rate loan with no points and fees of less than $1,500.

We searched the extensive databases at and to compare offers.

The best rates in the cities we surveyed were:

Charlotte, N.C.: 5.125% from CarolinaEquityServices.

Chicago, Ill.: 5.125% from First Savings Bank of Hegewisch.

Jacksonville, Fla.: 4.875% from Capital Discount Mortgage Group.

Joplin, Mo.: 5.00% from American Home Lending Group.

Los Angeles: 5.125% from EverBank.

Memphis, Tenn.: 5.00% from First Tennessee.

New York: 5.125% from Mortgage Capital Associates.

Phoenix, Ariz.: 5.00% from De Anza Capital, Inc.

San Francisco, Calif.: 5.00% from National Mortgage Alliance.

Seattle, Wash.: 5.125% from Sammamish Mortgage.

The fine print: These mortgage rates are for conforming loans (less than $417,000), and for borrowers with credit scores of at least 700. For scores from 680 to 699 you’ll usually pay higher fees, up to 1% of the loan value, or a higher rate.

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