30-Year FRM Remains Slightly Above 5%

Freddie Mac's average rate for a 30-year fixed rate mortgage fell slightly but remained above 5% during the week ended Jan. 29. The average 30-year FRM rate was 5.10%, down from 5.12% the week previous and from 5.68% the previous year. The average 15-year FRM rate remained where it was the previous week at 4.80% but was down from 5.17% from a year ago. The average rate for a five-year Treasury-indexed hybrid adjustable-rate mortgage was 5.27%, up from the previous week's 5.24% but down from 5.32% last year. The average rate for a one-year Treasury-indexed ARM was 4.90%, down from 4.92% the previous week and 5.05% the previous year. Average points were 0.7 for 30- and 15-year FRMs, and 0.6 for five-year hybrids and one-year Treasury-indexed ARMs.