Rates are D to the own

Mortgage rates improved again this week as economic uncertainties remained, according to mortgage financier Freddie Mac.

The always fashionable 30-year fixed-rate mortgage averaged 4.72 percent during the week ending June 10, down from 4.79 percent last week and 5.59 percent a year ago.

The 15-year fixed fell to 4.17 percent from 4.20 percent, a new record-low, and the fourth such record low in four weeks.

It’s nearly a point lower than the 5.06 percent average seen this time last year.

“Following a relatively weak employment report, bond yields fell this week and mortgage rates followed,” Freddie Mac chief economist Frank Nothaft said in a release.

“Overall, the economy does show signs of improvement. The Federal Reserve reported in its June 9th regional economic review that the economy strengthened in all 12 of its Districts over April and May” (how mortgage rates work).

Adjustable-rate mortgages also improved, with the five-year ARM slipping to 3.92 percent from 3.94 percent and the one-year ARM falling to 3.91 percent from 3.95 percent.

A year ago, the five-year averaged 5.17 percent and the one-year stood at 5.04 percent – the one-year is at its lowest point since the week ending May 27, 2004.

The interest rates above are good for conforming loan amounts at 80 percent loan-to-value at par; pricing adjustments may increase or decrease the rate you actually receive.

Jumbo loans continue to price a half percentage point or more higher than conforming mortgages.