On its website, the Statesman Journal newspaper (Salem, Oregon, 2005) reports mortgage loan interest rates for 30-year and 15-year fixed-rate mortgage loans for a number of Willamette Valley lending institutions. Of interest is whether there is any systematic difference between 30-year rates and 15-year rates (expressed as annual percentage rate or APR) and, if there is, what is the size of that difference. The following table displays the 30-year rate and the 15-year rate for each of nine lending institutions. Also given is the difference between the 30-year rate and the 15-year rate for each lending institution. Use the table to compare the 30-year rates and the 15-year rates. Also, calculate the average of the differences between the rates. (Input the amount as positive value. Round your answer to 4 decimal places.) Lending Institution Blue Ribbon Home Mortgage Coast To Coast Mortgage Lending Community Mortgage Services Inc. Liberty Mortgage Jim Morrison's MBI Professional Valley Mortgage Mortgage First Professional Mortgage Corporation Resident Lending Group Inc. 30-Year 5.904 4.111 5.454 4.271 3.407 4.184 3.205 5.822 4.528 15-Year 2.598 2.566 2.777 3.696 4.100 3.040 3.695 3.650 3.392 Difference 3.306 1.545 2.677 0.575 -0.693 1.144 -0.490 2.172 1.136 Term of Mortgage 6.0 5.5 5.0 4.5 Mortgage Rate 4.0 3.5 3.0 2.5 30-Year 15-Year Box Plot of Difference 3 2 Difference 0 -1 the 15-year rates. Overall, the 30-year rates are The variability is Average of the differences =