Most mortgages show lower rates

MCLEAN, Va., Dec. 6 (UPI) -- Most U.S. mortgage rates were close to two-year lows, the Freddie Mac agency said in its weekly market survey Thursday.

The 30-year fixed-rate mortgage averaged 5.96 percent with an average 0.4 point this week, down from last week's 6.1, It was the lowest since Sept. 29, 2005.

The 15-year FRM averaged 5.65 percent with an average 0.5 point, down from last week's 5.73 percent. It had not been lower since Oct. 13, 2005.

Five-year Treasury-indexed hybrid adjustable-rate mortgages averaged 5.75 percent this week, with an average 0.5 point, down from last week's 5.86 percent. The 5-year ARM has not been lower since Oct. 27, 2005.

One-year Treasury-indexed ARMs averaged 5.46 percent, with an average 0.6 point, up from last week's 5.43 percent.

Freddie Mac is a stockholder-owned corporation established by Congress in 1970 to support homeownership and rental housing.