Freddie Mac has released the results of its Primary Mortgage Market Survey (PMMS) showing that the 30-year fixed-rate mortgage rate rose, the 15-year fixed-rate dipped slightly and shorter-term rates fell. The survey found that the 30-year fixed-rate mortgage (FRM) averaged 4.37 percent with an average 0.7 point for the week ending Sept. 16, 2010, up from last week when it averaged 4.35 percent. Last year at this time, the 30-year FRM averaged 5.04 percent. “Interest rates on 30-year fixed mortgages have remained below five percent for the last 19 weeks giving people ample opportunity to refinance their existing mortgage debt," said Frank Nothaft, vice president and chief economist for Freddie Mac. "As a result, homeowners reduced their financial obligations relative to disposable personal income during the second quarter of 2010 to the lowest share in almost eight years, according to the Federal Reserve. Currently, four out of five mortgage applications are for refinancing existing mortgage debt, based on figures by the Mortgage Bankers Association.” This past week, the 15-year averaged a record low of 3.82 percent with an average 0.6 point, down slightly from last week when it averaged 3.83 percent. A year ago at this time, the 15-year FRM averaged 4.47 percent. The five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.55 percent this week, with an average 0.6 point, down slightly from last week when it averaged 3.56 percent. A year ago, the five-year ARM averaged 4.51 percent. The one-year Treasury-indexed ARM averaged 3.40 percent this week with an average 0.7 point, down from last week when it averaged 3.46 percent. At this time last year, the one-year ARM averaged 4.58 percent. For more information, visit www.freddiemac.com.