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by CareyBot

Mortgage rates hit new lows again this week, with the 30-year fixed-rate mortgage averaging 4.57 percent with an average 0.7 point for the week ending July 8, Freddie Mac said in releasing the results of its weekly Primary Mortgage Market Survey.That's down from 4.58 percent last week and 5.2 percent a year ago, and is the lowest rate surveyed for the 30-year fixed-rate mortgage by Freddie Mac since 1971.Rates for 15-year fixed-rate mortgages averaged 4.07 percent with an average 0.7 point, up from 4.04 percent last week but down from 4.69 percent a year ago.The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) loan averaged 3.75 percent with an average 0.7 point, down from 3.79 percent last week and 4.82 percent a year ago. That rate represented a new low in records dating to ...