Data from the Primary Mortgage Market Survey showed that the average rate for 30-year fixed-rate mortgages (FRM) averaged 4.82 percent with .06 point compared to 4.87 percent with 0.7 point reported for the week ended April 9.

The 15-year FRM set its second record low this month with an average rate of 4.48 percent with 0.6 point, down from last week when the average was 4.54 percent with 0.7 point.  This beats the previous record of 4.52 percent set two weeks ago to become the lowest 15-year fixed-rate since Freddie Mac began tracking it in August 1991.

Five-year Treasury-indexed hybrid adjustable-rate mortgages (ARMs) averaged 4.88 percent this week, compared with the previous period when they averaged 4.93 percent.  Fees and points were down from 0.7 to 0.6 point.  This is the lowest the 5-year ARM has been since Freddie Mac began tracking it in January 2005, besting the 4.92 rate reached two weeks ago.

Short term adjustable rates increased.  The one-year Treasury-indexed ARMs averaged 4.91 percent this week with an average 0.7 point, up from last week when it averaged 4.83 percent with 0.5 point

 "Mortgage rates on fixed-rate loans and some ARM products eased this week," said Frank Nothaft, Freddie Mac vice president and chief economist.  "The housing industry is starting to exhibit some positive signs, albeit scarce and too early to tell how permanent.  In its April 15th regional economic report, the Federal Reserve reported that better-than-expected buyer traffic led to a scattered pickup in home sales in a number of its Districts over the 6-week period ending on April 6th.  Factors such as homebuyer tax credits, low mortgage rates, and more affordable prices were cited as leading to more potential buyers.  This may have added to the rise in homebuilder confidence in April, which rose to the highest level in six months, according to the National Association of Home Builders.  Moreover, confidence increased in each of the four regions, led by the Northeast and Midwest.

Fannie Mae released information on its weekly yields for the period ended April 13 on Tuesday.  All Fannie Mae yields are quoted on a net basis and do not include servicing fees.

The Fannie Mae yields declined slightly from the previous week.  The 30-year FRM averaged 4.39 percent compared to 4.4 percent during the previous week.   The 15-year FRM was down one basis point to 4.07, and government insured FHA and VA mortgages declined to 5.52 percent from 5.60 percent.

The rate for one-year ARMs dropped significantly.  During the week ended April 6 the average was 4.050 percent; last week the rate was 3.44.