Greetings neighbors,

Following the trend in recent weeks, mortgage rates set new record lows yet again for the 8th week in the row according to Freddie Mac's Primary Mortgage Market Survey.

According to Freddie's survey for the week ending today, August 12th, 30-year FRM's came in at an average rate of 4.44% with an average 0.7 origination point. This number showed a decrease from last week's average of 4.49% and last year's average of 5.29%.

In addition, the survey showed a decrease in 15-year FRM's as well with an average rate of 3.92% and an average point of 0.6 when compared to last week's average of 3.95%. This number is also lower than last year's average of 4.68%.

The 5-year ARM came in this week averaging 3.56% with an average origination point of 0.7 in comparison to last week's 3.63% and last year's average of 4.75%.

Last but not least, the one-year Treasury-indexed ARM came in at 3.53% with an average point of 0.7 on the weekly survey in comparison to 3.55% last week. This time last year, the one-year Treasury-indexed ARM averaged 4.72%.