The 30-year and 15-year fixed tick down on signs of continued economic weakness.
NEW YORK (CNNMoney.com) -- Home mortgage rates retreated last week, with the 30-year fixed slipping to 5.7% from 5.8% the week prior, according to a report from a financial data aggregator released Thursday.
The average 15-year mortgage rate also fell, dipping to 5.07% from 5.16%, according to the weekly national survey from Bankrate.com.
Mortgage rates fell to month-ago levels "as evidence mounts of continued economic weakness," the report said, citing troubling recent data on unemployment, GDP and consumer spending.
"Rates are likely to bob up and down as concerns alternate between economic weakness and future inflation," the report said. "Spurts of volatility should be expected, especially given the uncertain economic and financial climate."
A related report this week said home prices fell 18.1% from a year earlier, but the change from March narrowed sharply in a possible sign that housing markets may be starting to turn.
Current rates remain much lower than last year's levels, when the average 30-year fixed mortgage rate was 6.53%, according to Bankrate.com.
At the current rate of 5.7%, the monthly payment on a $200,000 mortgage would be $1,160.80, or about $107 less than the monthly payment at last year's rate of 6.53%.
Other rates: The average jumbo 30-year fixed rate ticked up to 6.67% from 6.96%. Loans are considered "jumbo" when they are too large to be purchased or guaranteed by Fannie Mae (FNM, Fortune 500) and Freddie Mac (FRE, Fortune 500).
Adjustable-rate mortgages were mixed, the report said, with the average 1-year ARM ticking up to 5.17% and the 5-year ARM falling to 5.17% from 5.26%. 
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