Freddie Mac released the results of its Primary Mortgage Market Survey in which the 30-year fixed-rate mortgage (FRM) averaged 5.10 percent for the week ending January 29, 2009, down from last week when it averaged 5.12 percent. 
Last year at this time, the 30-year FRM averaged 5.68 percent.
The 15-year FRM this week averaged 4.80 percent, unchanged last week when it averaged 4.80 percent. A year ago at this time, the 15-year FRM averaged 5.17 percent.
Five-year hybrid adjustable-rate mortgages (ARMs) averaged 5.27 percent this week, up from last week when it averaged 5.24 percent. A year ago, the 5-year ARM averaged 5.32 percent. One-year Treasury-indexed ARMs averaged 4.90 percent this week, down from last week when it averaged 4.92 percent. At this time last year, the 1-year ARM averaged 5.05 percent.
To obtain the rates, the fixed-rate mortgages required payment of an average 0.7 point, and the ARMs required payment of an average 0.6 point. A point is 1% of the mortgage amount, charged as prepaid interest. The Freddie Mac survey covers conforming mortgages.
