Mortgage rates finish year near historic lows

The nation's average mortgage interest rates are finishing 2011 near all-time historic lows, helping to keep homebuyer affordability high.

The Freddie Mac  mortgage market survey showed the 30-year, fixed-rate mortgage averaged 3.95% for the week ending Thursday, up from the prior week's average of 3.91%. Last year at this time, the 30-year FRM averaged 4.86%.

This week's 15-year FRM, a popular refinancing choice, averaged 3.24%, up from last week when it averaged 3.21%.A year ago, the average rate for a 15-year FRM was 4.2%.

Five-year, Treasury-indexed hybrid adjustable-rate mortgages averaged 2.88% this week, up slightly from 2.85% the prior week and lower than 3.77% a year earlier.

And one-year Treasury-indexed ARMs averaged 2.78%, barely rising from last week when it averaged 2.77% but down from 3.26% last year.

Bankrate reported the 30-year, FRM rose to 4.21% from 4.2%, while the 15-year, FRM rose to 3.44% from 3.42%, and the 5/1 ARM grew to 3.2% from 3.18%.