Mortgage rates fell the week that ended Thursday, with the average 30-year fixed rate falling back below 5% as U.S. Treasury yields continue to fluctuate, according to Freddie Mac's weekly survey.

The 30-year fixed rate averaged 4.97% for the week, down from last week's 5.01% and 5.16% a year earlier. Rates on 15-year fixed-rate mortgages were 4.34%, down from 4.4% last week and 4.81% a year earlier. Five-year Treasury-indexed hybrid adjustable-rate mortgages averaged 4.19%, down from last week's 4.27% and 5.23% a year earlier. One-year Treasury-indexed ARMs were 4.33%, up from 4.22% last week, but down from 4.94% a year earlier.

To obtain the rates, the 30-year fixed-rate mortgage required an average 0.7 point; the others required an average 0.6 point. A point is 1% of the loan amount, charged as prepaid interest.

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