mortgage rates fell this week with the average rate on the popular 30year fixedrate mortgage dropping below 5 housingfinance agency freddie mac said in the week ending thursday the average rate on a 30year fixedrate mortgage fell to 499 from 530 last week a year ago this week the average rate was 277 average 15year rates were 426 down from 458 a week ago freddie mac said a year ago the average 15year fixedrate mortgage rate was 210 the average rate on a fiveyear treasuryindexed hybrid adjustablerate mortgage or arm was 425 down from 429 last week a year ago the fiveyear arm averaged 240 mortgage rates remained volatile due to the tug of war between inflationary pressures and a clear slowdown in economic growth said sam khater freddie macs chief economist the high uncertainty surrounding inflation and other factors will likely cause rates to remain variable especially as the federal reserve attempts to navigate the current economic environment write to will feuer at willfeuerwsjcom