Freddie Mac released the results of its Primary Mortgage Market Survey (PMMS) showing fixed mortgage rates virtually unchanged and remaining near their record lows amid growing concerns around the fiscal cliff. The 30-year fixed-rate mortgage has averaged below 4.00 percent all but one week in 2012 while the 15-year fixed-rate mortgage has averaged below 3.00 percent since the last week in May.

The 30-year fixed-rate mortgage (FRM) averaged 3.32 percent with an average 0.8 point for the week ending November 29 2012 up from last week when it averaged 3.31 percent. Last year at this time the 30-year FRM averaged 4.00 percent.

Additionally the 15-year FRM this week averaged 2.64 percent with an average 0.6 point up from last week when it averaged 2.63 percent. A year ago at this time the 15-year FRM averaged 3.30 percent.

The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.72 percent this week with an average 0.6 point down from last week when it averaged 2.74 percent. A year ago the 5-year ARM averaged 2.90 percent.

The 1-year Treasury-indexed ARM averaged 2.56 percent this week with an average 0.5 point the same as last week. At this time last year the 1-year ARM averaged 2.78 percent.

Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage. Visit the following links for Regional and National Mortgage Rate Details and Definitions. Borrowers may still pay closing costs which are not included in the survey.

"Mortgage rates were virtually unchanged this week amid growing concerns around the fiscal cliff. Although low mortgage rates failed to boost new home sales in October year-to-date sales are up 20 percent compared with 2011 volumes and there are growing signs of a turnaround in house prices" says Frank Nothaft vice president and chief economist Freddie Mac. "The S&P/Case-Shiller national home price index (seasonally adjusted) rose 5.2 percent over the first three quarters of this year. In addition all 20 of the city indices (seasonally adjusted) had positive growth over the first 9 months led by a 17.9 percent increase in Phoenix. More recently the Federal Reserve's November 28th regional economic review known as the Beige Book noted that 10 of the 12 districts reported the market for single-family homes continued to improve leading into mid-November."