Mortgage rates dipped below 5% in Freddie Mac’s (FRE) weekly rate survey. Freddie, headquartered in McLean, VA (pictured above), said the average mortgage rate for a 30-year fixed-rate mortgage was 4.99% with an average 0.7 origination point for the week ending January 21, down from last week when it was 5.06%. A year ago, the average 30-year FRM was 5.12%. Bankrate.com’s survey of large banks and thrifts put the 30-year FRM at 5.15% this week, down from last week when it averaged 5.23%. Freddie Mac put the 15-year FRM at 4.4% when an average 0.6 origination point, down from last week’s average of 4.45% and a year ago, when the 15-year FRM was 4.8%. Bankrate.com put the 15-year FRM at 4.56%, down from last week when it was 4.62%. “Fixed mortgage rates followed bond yields lower for the third consecutive week, pushing 30-year mortgages below 5 percent once more,” said Frank Nothaft, Freddie Mac vice president and chief economist. “Similarly, ARM rates eased along with shorter-term rates, as the federal funds futures market indicates no increase in the Federal Reserve’s target rate following its upcoming committee meeting on January 26th and 27th.” Freddie said the five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 4.27% with an average 0.6 point, down from last week when it was 4.32% and a year ago when the five-year ARM averaged 5.24%. Bankrate.com put the five-year ARM at 4.68%, down from 4.73% a week ago. The one-year Treasury-indexed ARM averaged 4.32% this week with an average 0.6 point, down from last week when it averaged 4.39% and a year ago when the one-year ARM averaged 4.92%. Write to Austin Kilgore. The author held no relevant investments.