Hello neighbors,

As for the weekly mortgage rates for the week ending July 22nd, Freddie Mac reported 30-year fixed-rate mortgages to be at 4.56% with an average 0.7 point for the week on their weekly Primary Mortgage Market Survey. This week's average was down from both last week's average of 4.57% and last year's average of 5.20%.

This week's 15-year FRM came in at an average record low of 4.03% with an average 0.7 point which also showed a decrease from last week's average of 4.06% and last year's average of 4.68%.

The 5-year Treasury-indexed hybrid ARM dropped from last week's average of 3.85% to 3.79% this week with an average point of 0.6. Last year during this time the 5-year Treasury-indexed hybrid ARM was sitting at 4.74%.

Lastly, the 1-year Treasury-indexed ARM produced an average of 3.70% with an average 0.7 point this week according to Freddie's report. This number, like the others, also showed a decrease from last week's average of 3.74% and last year's average of 4.77%.

Like the previous weeks, this week's mortgage rates reached record lows for Freddie Mac's survey.