Fixed-rate mortgages as well as the five-year adjustable rate loan tracked by Freddie Mac continue to reach record lows.
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The Primary Mortgage Market Survey for the week ended September 2 found on average the 30-year fixed rate slid to 4.32% from 4.36% the week before and from 5.08% a year ago; the 15-year fixed rate fell to 3.83% from 3.86% the week before and 4.54% a year ago; and the five-year Treasury-indexed hybrid dropped to 3.54% from 3.56% a week ago and 4.59% a year ago.
The one-year Treasury adjustable-rate mortgage fell slightly to 3.50% from 3.52% a week ago and down from 4.62% a year ago. Average points for all the loan types were 0.7.
