Fixed-rate mortgages as well as the five-year adjustable-rate loan tracked by Freddie Mac continue to reach record lows.
The primary mortgage market survey for the week ended Sept. 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 earlier; the 15-year fixed rate fell to 3.83% from 3.86% the previous week and 4.54% a year earlier; and the five-year Treasury-indexed hybrid dropped to 3.54% from 3.56% and 4.59%. The one-year Treasury adjustable-rate mortgage fell slightly to 3.50% from 3.52% and 4.62%. Average points for all the loan types were 0.7.
