(PMMS®), showing average mortgage rates climbing as the housing market ended 2011 on a high note. The 30-year fixed-rate mortgage averaged 3.98 percent reversing its previous three-week trend of setting all-time record lows. Despite the jump, this marks the eighth consecutive week the 30-year fixed has remained below 4.00 percent.

News Facts

  • (FRM) averaged 3.98 percent with an average 0.7 point for the week ending January 26, 2012, up from last week when it averaged 3.88 percent. Last year at this time, the 30-year FRM averaged 4.80 percent. 
  • this week averaged 3.24 percent with an average 0.8 point, up from last week when it averaged 3.17 percent.A year ago at this time, the 15-year FRM averaged 4.09 percent. 
  • (ARM) averaged 2.85 percent this week, with an average 0.7 point, up from last week when it averaged 2.82 percent. A year ago, the 5-year ARM averaged 3.70 percent.
  • averaged 2.74 percent this week with an average 0.6 point, matching last week when it averaged 2.74 percent. At this time last year, the 1-year ARM averaged 3.26 percent.  

Average commitment rates should be reported along with average feespoints to reflect the total upfront cost of obtaining the mortgage. Visit the following links for . Borrowers may still pay closing costs which are not included in the survey.

Quotes

Attributed to Frank Nothaft, vice presidentchief economist, Freddie Mac.

  • "Fixed mortgage rates ticked up this week as the housing market ended 2011 on a high note.  of one-family homes rose 4.4 percent in December to an annualized rate of 470,000, the most since April 2010. increased 5.0 percent at the end of the year to 4.61 million houses, the largest amount since May 2010. Furthermore, in NovemberDecember averaged the highest reading since the MarchApril 2010 period."

Freddie Mac was established by Congress in 1970 to provide liquidity, stabilityaffordability to the nation's residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Over the years, Freddie Mac has made home possible for one in six homebuyersmore than five million renters.

SOURCE Freddie Mac

For further information: Chad Wandler, +1-703-903-2446, Chad_Wandler@FreddieMac.com

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