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“However, the resiliency of the housing sector continues to amaze,” said Nothaft. “2005 will be another banner year for the housing industry.”

Five-year adjustable-rate mortgages averaged 5.31 percent, compared to 5.26 percent the previous week. There is no data available for a year-to-year comparisons since Freddie Mac only began tracking the 5-year loans this year.

One-year adjustable-rate mortgages averaged 4.48 percent, up slightly from 4.46 percent the week before. At this time last year, the one-year loan averaged 4.00 percent.

Source: Money.com