down from 2.63 percent in the previous week.

Freddie Mac says 5-year ARM and 15-year fixed rate loans at new lows
WASHINGTON, April 25 () -- U.S. mortgage rates hit record lows or close to them in the latest week, the Federal Home Loan Mortgage Corp. said Thursday.Rates slid for the fourth consecutive week with five-year adjustable rate mortgages and 15-year fixed rate loans both hitting record lows, Freddie Mac said.Average interest rates for five-year ARM loans dropped to 2.58 percent from 2.6 percent with 0.5 point,[url=http://www.tymarc.com/]christian louboutin sale[/url], Freddie Mac said. Average rates for 15-year fixed rate loans fell from 2.64 percent to 2.61 percent with 0.7 point.Rates for 30-year, fixed-rate mortgages slid from 3.41 percent to 3.4 percent with an average 0.8 point to 3.41 percent with an average of 0.7 point, Freddie Mac said.One point is equal to 1 percent of the amount of the loan and is typically paid up front. It includes a corresponding discount on the loan's long-term interest rates.One-year adjustable rate mortgages using 10-year bonds as a benchmark averaged 2.62 percent with 0.3 point in the week, down from 2.63 percent in the previous week.

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