Freddie Mac has released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 4.78 percent with an average 0.7 point for the week ending Nov. 25, 2009, down from last week when it averaged 4.83 percent. Last year at this time, the 30-year FRM averaged 5.97 percent. The 30-year has not been this low since the week ending April 30, 2009, when it averaged 4.78 percent. The 15-year FRM this week averaged 4.29 percent with an average 0.6 point, down from last week when it averaged 4.32 percent. A year ago at this time, the 15-year FRM averaged 5.74 percent. The 15-year FRM has never been this low since Freddie Mac started tracking it in 1991. The five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 4.18 percent this week, with an average 0.6 point, down from last week when it averaged 4.25 percent. A year ago, the five-year ARM averaged 5.86 percent. The five-year ARM has never been this low since Freddie Mac started tracking it in 2005. The one-year Treasury-indexed ARM averaged 4.35 percent this week with an average 0.7 point, unchanged from last week when it averaged 4.35 percent. At this time last year, the one-year ARM averaged 5.18 percent. The 1-year ARM has not been this low since the week ending July 7, 2005, when it averaged 4.33 percent. Average commitment rates should be reported along with average fees and points to reflect the total cost of obtaining the mortgage. “Long-term mortgage rates eased for the fourth consecutive week to record levels,” said Frank Nothaft, Freddie Mac vice president and chief economist. “Interest rates for 30-year fixed mortgage loans tied an all-time record low while both 15-year fixed mortgages and five-year ARMs broke their corresponding records. Interest rates for 30-year fixed-rate loans are currently 0.8 percentage points below this year’s peak set in mid-June, which shaves roughly $100 off the monthly payments on a $200,000 mortgage. House prices are slowly beginning to firm now. For instance, annual house price declines slowed for the sixth consecutive month in September, down only three percent, and represented the smallest decline since February 2008, according the Federal Housing Finance Agency’s purchase-only house price index. Moreover, 11 of the 20 major metropolitan areas experienced monthly house price increases between August and September, based on the S&P/Case-Shiller 20-city house price indexes.” For more information, visit www.freddiemac.com.