The recent rally brought on by weaker than expected economic news pushed 30-year fixed mortgage rates to match its year-to-date lows, while 15-year fixed, 5/1 hybrid ARMs and one-year ARMs all set new lows for 2011.

For the week ending May 5, Freddie Mac reported that 30-year fixed mortgage rates averaged 4.71% with an average 0.7 point, down seven basis points from last week. This puts the no-point rate at below 4.90%, which should lead to a pickup in refinancing activity.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.