Freddie Mac recently released the results of its Primary Mortgage Market Survey® (PMMS®), showing fixed mortgage rates moving higher from the previous week. The 30-year fixed averaged 3.42 percent, its highest reading since September 29, 2012. Regardless, fixed-mortgage rates still remain highly affordable near their all-time record lows, and should continue to aid in the ongoing housing recovery.

The 30-year fixed-rate mortgage (FRM) averaged 3.42 percent with an average 0.7 point for the week ending January 24, 2013, up from last week when it averaged 3.38 percent. Last year at this time, the 30-year FRM averaged 3.98 percent.

Additionally, the 15-year FRM this week averaged 2.71 percent with an average 0.7 point, up from last week when it averaged 2.66 percent. A year ago at this time, the 15-year FRM averaged 3.24 percent. The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.67 percent this week with an average 0.5 point, the same as last week. A year ago, the 5-year ARM averaged 2.85 percent.

The 1-year Treasury-indexed ARM averaged 2.57 percent this week with an average 0.5 point, the same as last week. At this time last year, the 1-year ARM averaged 2.74 percent.

Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage.