The average rates for a mortgage in the United States have once again fallen below the 5 percent mark, according to Freddie Mac.

The mortgage buyer’s weekly survey indicated that the national average interest rate for mortgages was at 4.97 percent, which is below the week before rate of 5.01 percent.

The weekly survey polls 125 of the nation’s top lenders, asking what their current 30 year interest rates are set at.

The current rates are below what they were at this same time last year, which was 5.16 percent.

The 15 year fixed rate this week is even lower, coming in at 4.34 percent on average.  That rate was at 4.81 percent one year ago.

Despite the falling of rates and their historically low setting, mortgage applications dropped 1.2 percent last week, indicating a slowing in the home buying market.  The weekly survey of mortgage applications is conducted by the Washington D.C. based Mortgage Bankers Association.