The cost to borrow money for homes inched down slightly in two weekly mortgage rate surveys. Freddie Mac’s (FRE) weekly survey put the average rate for a 30-year fixed-rate mortgage (FRM) at 4.98% with an average 0.6-origination point for the week ending January 28. That’s a slight dip from last week, when Freddie said the rate was 4.99%. A year ago, the average 30-year FRM rate was 5.10%.’s survey of large banks and thrifts put the 30-year FRM rate at 5.13% with an average 0.49 origination point this week, down from 5.15% a week ago. Freddie said the 15-year FRM rate averaged 4.39% with an average 0.6 point, down from last week’s average of 4.4% and a year ago, when the rate was 4.8%. The survey put the 15-year FRM at 4.54%, down from 4.56% last week. Freddie Mac vice president and chief economist Frank Nothaft said the Federal Reserve’s announcement this week that economic activity continued to strengthen helped keep mortgage rates steady. “Mortgage rates held steady this week ahead of the Federal Reserve’s policy committee meetings,” Nothaft said. “It also noted that with substantial resource slack continuing to restrain cost pressures and with longer-term inflation expectations stable, inflation is likely to be subdued for some time. Adjustable-rate mortgage (ARM) rates were also down. Freddie said the five-year Treasury-indexed hybrid ARM averaged 4.25% this week, with an average 0.6 point, down from last week when it averaged 4.27%. A year ago, the five-year ARM averaged 5.27%. The one-year Treasury-indexed ARM averaged 4.29%, down from last week’s 4.32%. A year ago, the one-year ARM averaged 4.9%. put the five-year ARM at 4.54%, down from 4.63% last week. Write to Austin Kilgore. Disclosure: The author held no relevant investments.