Average long-term U.S. mortgage rates fell for the fifth straight week amid volatility in world financial markets.

Is it time to call you Mortgage Broker in San Ramon for mortgage refinancing opportunity? Mortgage buyer Freddie Mac says the average rate on a 30-year fixed-rate mortgage slid to 3.72% this week, down from 3.79% last week and the lowest since it averaged 3.68% in April 2015.

The average rate on a 15-year fixed-rate mortgage slid to 3.01% from 3.07% last week.

Mortgage rates have continued to fall despite the Federal Reserve’s decision in December to raise the short-term rate it controls for the first time since 2006. Our home loan agents in San Ramon got many calls recently from borrowers considering to refinance their mortgages. Is it a good time to refinance? Contact our San Ramon mortgage broker (Golden Pacific Home Loans) to discuss your current home mortgage rate.

Global markets have been rattled this year by signs of a global slowdown and big drops in the price of commodities, including oil. Investors have sought refuge in U.S. Treasury’s, pushing down long-term U.S. rates.

To calculate average mortgage rates, Freddie Mac surveys lenders across the country at the beginning of each week. The average doesn’t include extra fees, known as points, which most borrowers must pay to get the lowest rates. One point equals 1 percent of the loan amount.

The average fee for a 30-year mortgage was unchanged at 0.6 point. The fee for a 15-year loan was also unchanged at 0.5 point.

The average rate on five-year adjustable-rate mortgages fell to 2.85% this week from 2.90% last week; the fee slid to 0.4 point from 0.5 point last week.

Contact our home loan agents in San Ramon for more information on mortgage rates and possible mortgage refinancing on your current home loan.