A fifth consecutive week of decline has brought average rates on fixed mortgages down to their lowest point this year, according to a recent report by Freddie Mac.

The average interest rate for 30-year fixed mortgages fell from 5 to 4.93 percent for the week of May 13. For 15-year fixed mortgages, the average interest rate decreased from 4.36 to 4.3 percent. The average rate on 5-year adjustable mortgages fell to 3.95 percent – its lowest level since Freddie Mac began tracking such ARMs in 2005.

Freddie Mac vice president and chief economist Frank Nothaft pointed to recent data from the National Association of Realtors showing that home prices have improved in some areas when compared to last quarter.

“On a year-over-year basis for the 152 areas the association reports on, 91 metropolitan areas had positive growth in the first quarter of this year,” Nothaft said. “This compares to 67 areas showing positive annual growth in the fourth quarter of 2009 and only 30 cities in the third quarter of last year.”

Mortgage rates have steadily decreased since the end of the Federal Reserve’s Mortgage-Back Securities purchase program pushed them to their highest level this year in April.