Mortgage rates in the US fell to their lowest level this week (10/5/10) since the start of 2010 as rates on Government securities declined.

Fixed-rate mortgages with a 30-year term fell to an average of 4.93%, down from 5% a week earlier and are the lowest since the middle of December 2009 when rates averaged 4.81%.

In 2009 the average fixed-rate mortgage had fallen to a recode low of 4.71% and currently the average 15-year fixed-rate mortgage is 4.3%, having dropped 0.06%. Five year adjustable-rate mortgages averaged 3.95%, down slightly from 3.97%.