NEW YORK (CNN/Money) - Long-term mortgage rates shot up this week, but the 30-year fixed-rate mortgage is closing out the year at its second lowest average annual rate in 32 years, a Freddie Mac survey shows.

The rate on the 30-year fixed-rate mortgage averaged 5.81 percent in the week ended Wednesday, with an average 0.6 point payable up front, up from 5.75 percent.

A year earlier, the rate on the 30-year fixed-rate loan stood at 5.85 percent.

"The 30-year [fixed-rate mortgage] came in under 6 percent for the last 22 weeks of this year. As a matter of fact, mortgage rates in 2004 averaged around 5.84 percent, the second lowest annual rate ever recorded in the history of Freddie Mac's Primary Mortgage Market Survey," said Amy Crews Cutts, Freddie Mac deputy chief economist.

The average 15-year mortgage rate rose to 5.23 percent, with a 0.6 percent payable up front, from last week's 5.18 percent. The rate averaged 5.15 percent a year ago.

One-year adjustable rate mortgages (ARMs) averaged 4.19 percent, up from 4.17 the previous week, with 0.6 of a point payable up front. At this time last year, the one-year ARM rate averaged 3.72 percent.

Despite this week's mortgage rate increase, Freddie Mac is confident that the housing boom will continue into the new year.

"Although mortgage rates are expected to rise in 2005, it will not be to a big enough degree to take much of the steam out of the housing industry," Crews Cutts added.

"Next year sales may drop off slightly from this year's banner pace, but the industry will continue to be healthy and robust well into the future."

Freddie Mac's (down $0.36 to $72.13, Research) average mortgage rates are based on a survey of 125 lenders nationwide.