As mortgage rates continue to tumble, buyers have reason to be a little more optimistic heading into the busy spring sales season.

The benchmark 30-year fixed mortgage rate fell to a new 10-month low of 4.54 percent from 4.57 percent a week ago, according to’s latest survey of the nation’s largest mortgage lenders.

Mortgage rates declined across other loan terms, too. The average 15-year fixed mortgage rate dipped four basis points to 3.94 percent — the lowest in a year. The average 5/1 adjustable mortgage rate slipped one basis point to 4.21 percent from the previous week.