Freddie Mac has released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 5.05 percent with an average 0.7 point for the week ending Dec. 24, 2009, up from last week when it averaged 4.94 percent. Last year at this time, the 30-year FRM averaged 5.14 percent. The 15-year FRM this week averaged 4.45 percent with an average 0.6 point, up from last week when it averaged 4.38 percent. A year ago at this time, the 15-year FRM averaged 4.91 percent. The five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 4.40 percent this week, with an average 0.6 point, up from last week when it averaged 4.37 percent. A year ago, the five-year ARM averaged 5.49 percent. The one-year Treasury-indexed ARM averaged 4.38 percent this week with an average 0.6 point, up from last week when it averaged 4.34 percent. At this time last year, the one-year ARM averaged 4.95 percent. Average commitment rates should be reported along with average fees and points to reflect the total cost of obtaining the mortgage. “Although interest rates for 30-year fixed-rate mortgages are above 5 percent this week for the first time since the end of October, they are still around 0.5 percentage points below this year’s peak set in mid-June,” said Frank Nothaft, Freddie Mac vice president and chief economist. “ARM rates increased by a lesser amount as the market consensus calls for no rate hikes by the Federal Reserve in the immediate future. Meanwhile, the housing market continues to show improvement. Total existing home sales jumped 7.4 percent in November to an annualized pace of 6.54 million units, which was the most since February 2007. Moreover, the number of unsold existing homes was the lowest since December 2006 and the number of unsold new homes was the least since April 1971, which may leave future room for new construction.” For more information, visit www.freddiemac.com.