Average Weekly 30-Year Rate Rises, Ends 2009 a Little Above 5%

The year ends with the average weekly rate for a 30-year fixed-rate mortgage a bit above 5%. The average 30-year FRM rate for the week ending Dec. 31 was 5.14%, up from 5.05% the prior week and from 5.10% a year ago. "Although long-term mortgage rates rose for the fourth week in a row, they still remain affordable by historical standards," said Frank Nothaft, Freddie Mac vice president and chief economist. "Based on today's median loan amount of $138,000, monthly principal and interest payments for a 30-year fixed-rate mortgage are close to one-third less than a decade ago when rates peaked at 8.6% in May 2000." The average 15-year FRM rate during the week ending Dec. 31 was 4.54%, up from 4.45% a week ago but down from 4.83% a year ago. The average rate for a five-year hybrid Treasury-indexed adjustable-rate mortgage was 4.44% in the most recent week, up from 4.40% a week ago but down from 5.57% a year ago. The latest average weekly one-year Treasury ARM rate was 4.33%, down from 4.38% a week ago and from 5.57% a year ago. Average points were 0.7 for 30-and 15-year FRMs and 0.6 for five-year Treasury hybrids and one-year Treasury ARMs.