Mortgage rates continued to slide downward for the week ending July 29, 2010, marking yet another round of record lows, Freddie Mac and Bankrate reported Thursday.

According to Freddie Mac’s Primary Mortgage Market Survey, 30-year fixed-rate mortgages averaged 4.54 percent with an average 0.7 point this week, nudging down from 4.56 percent last week. In addition, Freddie Mac reported a minor decline in 15-year fixed-rate mortgages, which averaged 4 percent with an average 0.7

point this week. Rates fell from last week’s average of 4.03 percent.

“For the sixth week in a row, interest rates on fixed-rate mortgages eased to all-time record lows during a week of mixed housing data reports,” said Frank Nothaft, Freddie Mac’s VP and chief economist.”

Bankrate also reported a continued decrease in mortgage rates this week. According to its weekly national survey, 30-year fixed rate mortgages averaged 4.71 percent with an average 0.44 point, inching down from 4.74 percent one week ago. Additionally, Bankrate said 15-year fixed-rate mortgages averaged 4.17 percent with an average 0.38 point, dropping slightly from last week’s average of 4.18 percent.

Complementing Bankrate’s survey is its weekly Rate Trend Index, in which mortgage experts predict which way rates are headed over the next week. According to the panelists, mortgage rates aren’t headed anywhere, as 74 percent said rates will remain more or less unchanged over the next seven days. Just 21 percent said rates will rebound from current lows, and a mere 5 percent said rates will decrease further over the coming week.