Freddie Mac today released the results of its Primary Mortgage Market Survey. The survey results showed lower mortgage rates for both long- and short-term rates.

30-year fixed-rate mortgage averaged 4.77% with an average 0.8 point for the week ending January 6, 2011, down from last week when it averaged 4.86%. Last year at this time, the 30-year averaged 5.09%.

5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.75% this week, with an average 0.7 point, down from last week when it averaged 3.77%. A year ago, the 5-year averaged 4.44%.

Mortgage rates began the new year a little lower this week and remained below those at the start of 2010, which should help aid the recovery in the housing market.

Low mortgage rates are an important factor in housing affordability, which in November was the highest since records began in 1971.  Pending home sales rose for the second consecutive month in November to the strongest pace since April when the home buyer tax credit expired.

More recently, mortgage applications for home purchases at the end of 2010 were roughly running at the same rate as the beginning of the year, according to the Mortgage Bankers Association.