The average primary market rate for a 30-year fixed-rate mortgage during the week ending April 21 dropped to 4.80% with 0.7 of a point from 4.91% the previous week, according to Freddie Mac.
A year ago, the weekly 30-year rate was 5.07%.
All other primary market rates on mortgage types tracked by Freddie Mac also were lower than both week ago and year ago levels during the week ending April 21.
The 15-year FRM rate was 4.02% with an average 0.7 of a point, down from 4.13% the previous week and 4.39% a year ago.
For five-year hybrid Treasury indexed adjustable-rate mortgages, the average rate in the most recent week was 3.61% with 0.6 of a point, down from 3.78% a week ago and 4.03% a year ago.
The one-year Treasury ARM rate averaged 3.16% with 0.6 of a point during the week ending April 21, down from 3.25% last week and 4.22% a year ago.
