The average 30-year fixed mortgage rate fell from 6.26% to 6.22% over the seven-day period ended Dec. 29, according to Freddie Mac's Primary Mortgage Market Survey.The average 15-year fixed mortgage rate fell from 5.79% to 5.76%, the average rate for five-year Treasury-indexed hybrid adjustable-rate mortgages decreased from 5.82% to 5.79%, and the average rate for one-year Treasury-indexed ARMs declined from 5.22% to 5.15%. Fees and points averaged 0.5 of a point for 30-year fixed-rate mortgages, 0.6 of a point for 15-year fixed-rate mortgages and hybrid ARMs, and 0.7 of a point for one-year ARMs. "Lower figures for the recently released Producer Price Index and Consumer Price Index and lower, but still strong, Gross Domestic Product, combined with the seasonal slowdown in the housing market, led to another decline in mortgage rates this week," said Amy Crews Cutts, Freddie Mac's deputy chief economist. She added that the 30-year mortgage rate averaged 5.87% in 2005, slightly above the 5.84% recorded in 2004. A year ago, the average 30-year and 15-year fixed rates were 5.81% and 5.23%, respectively, and the average one-year ARM rate was 4.19%, Freddie Mac said. Freddie Mac can be found online at http://www.freddiemac.com.

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