Boston mortgage rates steady during week of January 21, 2011
Jan 2011 22

Mortgage rates remained steady during the past week, according to a survey of mortgage loan providers conducted by Freddie Mac. Rates remain lower than last year at this time.

The 30-year fixed-rate mortgage (FRM) averaged 4.74 percent with an average 0.8 point for the week ending January 20, 2011, up from last week when it averaged 4.71 percent.

Last year at this time, the 30-year FRM averaged 4.99 percent.

Driving lower rates are the US economy including the absence of any signs of inflation.

Frank Nothaft, vice president and chief economist, Freddie Mac:

Mortgage rates were little changed during the holiday week amid reports that inflation remains tame. Both the December core producer price index and consumer price index matched the market consensus. Compared to December 2009, core consumer prices rose at a 0.8 percent rate, the smallest yearly increase since records began in 1958.

More: Freddie Mac’s Primary Mortgage Market Survey, January 20, 2011

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