Similar to the Mortgage Bankers Association (MBA) report earlier this morning, Freddie Mac stated that new lows were set on 30- and 15-year fixed mortgage rates as well as one-year ARM rates for the week ending July 5.

The 30-year rate averaged 3.62%, down four basis points from last week; 15-year fixed rates declined five basis points to 2.89%, and one-year ARM rates fell to 2.68% from 2.74%. Meanwhile, 5/1 Hybrid ARM rates held unchanged at 2.79% which is two basis points above its historic low.

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