Freddie Mac reported new record low rates were set for 30- and 15-year fixed mortgage rates in the week ending September 29.
The 30-year rate declined eight basis points to 4.01% with an average 0.7 point, which places the no-point rate at 4.19%. Freddie's press release pointed out that the West region recorded the lowest average rate at 3.95%. 15-year fixed rates slipped one basis point to 3.28%. Meanwhile, 5/1 hybrid ARMs were unchanged at 3.02%, while one-year ARM rates rose to 2.83% from 2.82%.