30-year mortgage rates at new low

WASHINGTON, Jan. 19 (UPI) -- Average fixed mortgage interest rates for 30-year contracts set record lows in the week ending Thursday, the Federal Home Loan Mortgage Corp. said.

The average rate dropped from 3.89 percent to 3.88 percent with 0.8 points, Freddie Mac said.

The 15-year fixed rate rose from last week's 3.16 percent to 3.17 percent with 0.8 points.

Five-year adjustable rate mortgages averaged 2.82 percent for the week with 0.7 points, matching last week's record low.

One-year treasury-indexed adjustable rate mortgages fell to an average interest rate of 2.74 percent, down from 2.76 percent in the previous week.