According to Freddie Mac’s Primary Mortgage Market Survey, the 30-year fixed-rate mortgage (FRM) averaged 4 percent with an average 0.7 point for the week ending Nov. 3, down from last week when it averaged 4.10 percent. Last year at this time, the 30-year FRM averaged 4.24 percent. This marks the second lowest reading since it hit a record 3.94 percent in the Oct. 6, 2011 survey, the lowest in history.

Meanwhile, the 15-year FRM this week averaged 3.31 percent with an average 0.7 point, down from last week when it averaged 3.38 percent. A year ago at this time, the 15-year FRM averaged 3.63 percent.

The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.96 percent this week, with an average 0.6 point, down from last week when it averaged 3.08 percent. A year ago, the 5-year ARM averaged 3.39 percent.

The 1-year Treasury-indexed ARM averaged 2.88 percent this week with an average 0.6 point, down from last week when it averaged 2.90 percent. At this time last year, the 1-year ARM averaged 3.26 percent.