The average 30-year fixed mortgage rate crept up to 5.87% for the week ending Jan. 9 from 5.85% the previous week, according to Freddie Mac's Primary Mortgage Market Survey.The average 15-year fixed mortgage rate inched up from 5.15% to 5.17%, and the average rate for one-year Treasury-indexed adjustable-rate mortgages rose from 3.72% to 3.76%. Fees and points averaged 0.7 of a point for fixed-rate mortgages and 0.6 of a point for ARMs. "With mortgage rates expected to remain around current modest levels, housing activity will continue to be brisk in 2004," said Frank Nothaft, Freddie Mac's chief economist. "Although home starts and sales will slip a little this year from last year, we should still experience construction and sales volumes that exceed 2002's levels, which was a great year for housing." A year ago, the average 30-year and 15-year fixed rates were 5.95% and 5.33%, respectively, and the average one-year ARM rate was 4.03%, Freddie Mac said. Freddie Mac can be found online at http://www.freddiemac.com.

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