The average 30-year fixed mortgage rate fell from 6.21% to 6.15% over the seven-day period ended Jan. 12, according to Freddie Mac's Primary Mortgage Market Survey.The average 15-year fixed mortgage rate fell from 5.76% to 5.71%, the average rate for five-year Treasury-indexed hybrid adjustable-rate mortgages decreased from 5.78% to 5.76%, and the average rate for one-year Treasury-indexed ARMs declined from 5.16% to 5.15%. Fees and points averaged 0.6 of a point for fixed-rate mortgages and one-year ARMs and 0.5 of a point for hybrid ARMs. "Interest rates for long-term mortgages slipped lower this week due to some economic data releases that pointed towards more subdued inflation in the near term," said Frank Nothaft, Freddie Mac's chief economist. "Rates for 30-year fixed-rate mortgages are about the same as they were in late October of 2005. However, shorter-term rates, such as those for adjustable-rate mortgages, were basically unchanged due to market expectations of another rate hike by the Federal Reserve Board at the end of January." A year ago, the average 30-year and 15-year fixed rates were 5.74% and 5.19%, respectively, and the average one-year ARM rate was 4.10%, Freddie Mac said. Freddie Mac can be found online at http://www.freddiemac.com.

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