Mortgage rates continue retreat

30-year fixed-rate loans at 4-week low

Mortgage rates continue to retreat from a year-end surge, with rates on 30-year fixed-rate loans hitting a four-week low, according to a weekly rate survey conducted by Freddie Mac.

Rates on 30-year fixed-rate mortgages averaged 4.71 percent with an average 0.8 point for the week ending Jan. 13, down from 4.77 percent last week and 5.06 percent a year ago. The 30-year fixed-rate mortgage hit a record low of 4.17 percent during the week ending Nov. 11, then surged to an average of 4.86 percent in the final week of 2010.