WASHINGTON, Dec. 6 (Xinhua) -- Rates on 30-year mortgages across the United States fell this week to the lowest level in more than two years, Freddie Mac reported Thursday in its nationwide weekly survey.

    In the week ending Dec. 6, rates on 30-year, fixed-rate mortgages averaged 5.96 percent, down from 6.10 percent last week, according to the mortgage company. This week's rate was the lowest rate since the week of Sept. 29, 2005, when they averaged 5.91 percent.

    The average of 30-year rates hit a high for this year of 6.73 percent in mid-July.

    Meanwhile, rates on 15-year fixed-rate mortgages, a popular choice for refinancing, declined to 5.65 percent this week from 5.73 percent last week.

    Rates on five-year adjustable rate mortgages (ARMs) decreased to 5.75 percent from 5.86 percent. One-year ARMs, however, edged up to 5.46 percent from 5.43 percent.

    A year ago, 30-year mortgages stood at 6.11 percent, 15-year mortgages were at 5.84 percent, five-year ARMS averaged 5.92 percent and one-year ARMs were at 5.43 percent.

    The once-sizzling U.S. housing market has slowed significantly since last year. The current housing slump, the worst in two decades, is expected to continue amid a widening credit crunch stemming from troubles in the U.S. subprime mortgage market, where loans are given to homebuyers with weak credit histories.