The Markets. Rates fell once again to their lowest levels since Freddie Mac started tracking them in 1971. Freddie Mac announced that for the week ending July 1, 30-year fixed rates averaged 4.58%, down from 4.69% the previous week. The average for 15-year fixed fell to 4.04%. Adjustables were mixed with the average for one-year adjustables rising to 3.80% and five-year adjustables decreasing to 3.79%. A year ago 30-year fixed rates were at 5.32%. “Rates on fixed-rate loans and the 5-year hybrid ARM fell once again to all-time record lows this week in a period where the economy struggles to gain momentum and inflation remains very low,” said Frank Nothaft, Freddie Mac vice president and chief economist. “Growth estimates for first quarter GDP were revised down by a half percentage point over the past two months to 2.7 percent, according to the Bureau of Economic Analysis. Annual inflation, as measured by the 12-month change in the core CPI, held at 0.9 percent in April and May, which is the slowest pace in over 44 years, as reported by the Bureau of Labor Statistics. Meanwhile, house prices are improving due in part to the homebuyer tax credit. The S&P/Case-Shiller 20-city home price index grew 0.4 percent between March and April and was up 3.9 percent from April 2009, representing the largest annual gain since October 2006. Moreover, 17 of the metropolitan areas experienced monthly gains in April, compared to 10 in March and six in February.” Rates indicated do not include fees and points and are provided for evidence of trends only. They should not be used for comparison purposes.