By NATHAN BECKER
Mortgage rates in the U.S. mostly fell the past week, with the average rate on 30-year fixed-rate mortgage falling slightly, extending its record low, according to Freddie Mac's weekly survey of mortgage rates.
The declines come as the Treasurys market has seen continued strength, pushing yields down. Mortgage rates, all of which have at least touched multi-year lows recently, generally track yields.The 30-year fixed-rate mortgage averaged 4.57% for the week ended Thursday, down slightly from the prior week's 4.58% average and 5.2% a year ago. It is at the lowest point in Freddie's 39-year survey.
Rates on 15-year fixed-rate mortgages were 4.07%, up from 4.04% a week earlier—the lowest since Freddie began tracking in 1991—but down from 4.69% a year earlier.
Five-year Treasury-indexed hybrid adjustable-rate mortgages averaged 3.75%—the lowest level since Freddie started keeping score in 2005—down from 3.79% and 4.82%, respectively. One-year Treasury-indexed ARMs were 3.75%, yet another fresh six-year low, dropping from 3.8% and 4.82%.
To obtain the rates, the mortgages required payment of an average 0.7 point. One point is 1% of the mortgage amount, charged as prepaid interest.
Write to Nathan Becker at nathan.becker@dowjones.com
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