The average 30-year fixed mortgage rate fell from 5.89% to 5.80% over the seven-day period ended Aug. 18, according to Freddie Mac's Primary Mortgage Market Survey.The average 15-year fixed mortgage rate decreased from 5.47% to 5.40%, the average rate for five-year Treasury-indexed hybrid adjustable-rate mortgages fell from 5.40% to 5.34%, and the average rate for one-year Treasury-indexed ARMs climbed from 4.57% to 4.58%. Fees and points averaged 0.5 of a point for fixed-rate mortgages, 0.6 of a point for hybrid ARMs, and 0.7 of a point for one-year ARMs. "Mortgage rates can fluctuate from week to week depending on market conditions and expectations," said Frank Nothaft, Freddie Mac's chief economist. "That is probably what happened this week. Although economic indicators of late have been positive, they were not quite what the market had been expecting." A year ago, the average 30-year and 15-year fixed rates were 5.81% and 5.19%, respectively, and the average one-year ARM rate was 4.01%, Freddie Mac said. Freddie Mac can be found online at http://www.freddiemac.com.

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