Mortgage RatesMortgage rates dropped to a record low this week, according to a new survey. The rate for a 30 year fixed mortgage is now 4.75%.

The survey, from Bankrate.com, found that the average discount and origination points on a 30 year mortgage is 0.41.

15 year fixed rate mortgages are also at a new low, 4.20%.  Adjustable rate mortgages are lower also, the average 5 year ARM is now 4.06%, and the 7 year 4.48%.

Despite the low rates, and the drop in home prices, the survey reported that consumers are reluctant to enter the housing market.  With unemployment high, and the economic forecast cloudy at best, home and home mortgage sales are slow.