McLEAN, VA -- Freddie Mac (NYSE:FRE) released the results of its Primary Mortgage Market Survey in which the 30-year fixed-rate mortgage (FRM) averaged 5.67 percent, with an average 0.7 points, for the week ending January 20, 2005, down from last week when it averaged 5.74 percent. Last year at this time, the 30-year FRM averaged 5.64 percent.

The average for the 15-year FRM this week is 5.15 percent, with an average 0.7 points, down from last week when it averaged 5.19 percent. A year ago, the 15-year FRM averaged 4.95 percent.

Five-Year Treasury-indexed hybrid adjustable-rate mortgages (ARMs) averaged 5.05 percent this week, with an average 0.6 points, unchanged from last week. There is no historical information for last year since Freddie Mac began tracking this mortgage rate at the start of this year.

One-year Treasury-indexed adjustable-rate mortgages (ARMs) averaged 4.11 percent this week, with an average 0.6 point, nearly unchanged from last week when it averaged 4.10 percent. At this time last year, the one-year ARM averaged 3.56 percent.

"Financial markets see inflation as being well managed by the Fed, and that allows long-term interest rates to remain low, with mortgage rates even falling a little more this week," said Frank Nothaft, Freddie Mac vice president and chief economist. "With housing starts in December near record levels, and November starts revised upward, the housing industry looks like it will remain vibrant in 2005."