Long-Term Mortgage Rates Fall for the Ninth Week Out of Ten

Freddie Mac’s Primary Mortgage Market Survey®: For yet another week, fixed-rate mortgages reached record lows, while the 5-year adjustable rate remained tied at its low for this survey.

• 30-year fixed-rate mortgage (FRM) averaged 4.36 percent with an average 0.7 point for the week ending August 26, 2010, down from last week when it averaged 4.42 percent. Last year at this time, the 30-year FRM averaged 5.14 percent.
• 15-year FRM this week averaged a record low of 3.86 percent with an average 0.6 point, down from last week when it averaged 3.90 percent. A year ago at this time, the 15-year FRM averaged 4.58 percent.
• 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.56 percent this week, with an average 0.6 point, unchanged from last week when it also averaged 3.56 percent. A year ago, the 5-year ARM averaged 4.67 percent.
• 1-year Treasury-indexed ARM averaged 3.52 percent this week with an average 0.7 point, down slightly from last week when it also averaged 3.53 percent. At this time last year, the 1-year ARM averaged 4.69 percent.