Residential loan rates fell this week to the lowest level on record, giving consumers added incentives to lock in low payments for home purchases and refinancings. The average rate for a 30-year fixed loan fell to 4.69%, from 4.75% last week, according to figures compiled by Freddie Mac. The average 15-year FRM rate, which Freddie began tracking in September 1991, fell to 4.13% from 4.2% the previous week. A year ago it was at 4.87%. The average rate for a five-year Treasury-indexed hybrid ARM, which Freddie began tracking in January 2005, slid to 3.84% from 3.89% the previous week and 4.99% a year ago. The average one-year Treasury ARM declined to 3.77% from 3.82% the previous week and 4.93% a year ago.
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