Fixed and hybrid ARM rates set new record lows for the week ending Aug. 12, according to Freddie Mac.

The 30-year fixed mortgage rates averaged 4.44% with an average 0.7 point, down five basis points from last week. This is equivalent to a no-point rate of 4.62%. A no-point rate of 4.50% is generally perceived as the level that will significantly stimulate refinancing activity.

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