The records continue to get broken in fixed and 5/1 Hybrid ARM rates. According to Freddie Mac's weekly survey, 30-year rates declined to 4.32% with an average 0.7 point from 4.36% last week.

This places the no point rate at the key 4.50% threshold which has previously been cited as a level where refinancing activity could significantly pick up. The 15-year fixed rates slipped three basis points to 3.83%, while 5/1 hybrid ARMs averaged 3.54% compared to 3.56% previously. Meanwhile, one-year ARM rates were at 3.50%, down two basis points over the week.

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