Mortgage Rates Near 03's RecordLows

McLEAN, Va. - (12/31/04) -- Fixed-rate mortgage rates climbedthis week, but ended the year near five-decade lows, according toFreddie Mac. The average for the 30-year, fixed-rate loan rose to5.81% this week, from 5.75% last week; while the average for the15-year, fixed-rate mortgage moved up to 5.23%, from 5.18%. For allof 2004 the average rate for the 30-year loan was 5.84%, upslightly from last year's 5.83% average, which was the lowest sinceFreddie Mac started keeping track. The benchmark rate was below 6%for final 22 weeks of the year. The average for the one-year ARMalso rose slightly this week to 4.19%, from 4.17% lastweek.