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by CareyBot

Rates on 15- and 30-year fixed-rate mortgages fell for a fifth consecutive week to new lows, Freddie Mac said in releasing the results of its weekly Primary Mortgage Market Survey.The 30-year fixed-rate mortgage averaged 4.71 percent with an average 0.7 point for the week ending Dec. 3, down from 4.78 percent last week and 5.53 percent a year ago. That's a new record dating back to 1971, when Freddie Mac began the survey.The 15-year fixed-rate mortgage averaged 4.27 percent with an average 0.6 point, down from 4.29 percent last week and 5.77 percent a year ago. Rates on 15-year fixed-rate mortgages have never been lower since Freddie Mac started tracking them in 1991.The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) loan averaged 4.19 percent this week, with an average 0.6 ...