Mortgage rates fell for the third consecutive week, continuing a trend that began late last year.

According to the latest Freddie Mac Primary Mortgage Market Survey, fixed mortgage rates are below last year’s levels.

The average 30-year fixed rate ended the week of February 21 at 4.35 percent, a decline from 4.37 percent the week before. Last year’s average 30-year rate was 4.40 percent.

Rates on 15-year fixed mortgages averaged 3.78 percent for the week, down from 3.81 percent the previous week. A year ago, the 15-year rate was 3.85 percent.

Five-year adjustable-rate mortgage rates averaged 3.84 percent during the week. That was lower than the 3.88 percent average the week before. A year ago, the 5-year ARM averaged 3.65 percent.

“Wages are growing on par with home prices for the first time in years, and with more inventory available, spring home sales should help the market begin to recover from the malaise of the last few months,” said Sam Khater, Freddie Mac’s chief economist.

At the end of the week, Bankrate.com listed the current 30-year fixed mortgage rate at 4.35 percent; 15-year fixed at 3.66 percent; 30-year jumbo rates at 4.37 percent; and a 5-year ARM at 4.04 percent.

Wells Fargo’s rates for the past week were 4.25 percent on a 30-year fixed and 4.125 on a 30-year jumbo; 3.75 percent on a 15-year fixed and on a 15-year jumbo; 3.875 percent a 5-year ARM and 4 percent on a 7-year ARM.

Bank of America listed its current 30-year fixed at 4.25 percent, 20-year at 4.125 percent, and 15-year at 3.625 percent. Its 5-year ARM is 3.5 percent and 10-year ARM is 4 percent.