Home mortgage loan rate fall again

The average rate on a 30 year fixed mortgage was 4.99 % , down from 5.06 % a week earlier, from mortgage company Freddie Mac. It was third straight week decline.

Freddie Mac collects mortgage rates on Monday through Wednesday of each week from lenders around the country.

Rates for 30 year loans had dropped to a record low of 4.71% in early December, pushed down by an aggressive government campaign to reduce consumer's borrowing costs.

Federal Reserve is pumping $1.25 trillion into mortgage -backed securities to try to bring down mortgage rates, but that money is set to run out next spring.

The average rate on 15 year fixed-rate mortgages fell to 4.4 %, down from 4.45% last week, according to Freddie Mac.

The rates do not include add-on fees known as points. One point is equal to 1% of the total loan amount.

The nationwide fee for loans in Freddie Mac's survey averaged 0.7 point for 30-year loans and 0.6 point for 15-year, five -year and one- year loans.