Mortgage rates fell again this week as 30-year fixed rates remained below 5%, according to Freddie Mac's weekly survey of mortgage rates, released Thursday.

The average rate for a 30-year fixed-rate mortgage for the week that ended Thursday fell 2 basis points from a week earlier and 128 basis points from a year earlier, to 4.78%.

For the third week in a row, the average for a 15-year fixed-rate loan was 4.48%. That rate fell 111 basis points from a year earlier.

The average rate for a five-year Treasury-indexed hybrid adjustable-rate mortgage fell 5 basis points from a week earlier and 93 basis points from a year earlier, to 4.8%.

For a one-year Treasury-indexed ARM, the average fell 5 basis points from a week earlier and 52 basis points from a year earlier, to 4.77%.

To obtain the rates, the fixed-rate mortgages and the five-year ARM required an average payment of 0.7 points, and the one-year ARM required an average payment of 0.5 points.

"Rates for fixed-rate mortgages hovered at record lows this week as ARM rates eased further," said Frank Nothaft, a vice president and chief economist at Freddie.

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