Mortgage rates settle down

Reports show no imminent growth in home construction, inflation

Mortgage rates were little changed during the week ending Jan. 20, amid reports that housing construction remains weak and inflation tame, Freddie Mac said in releasing the results of its weekly Primary Mortgage Market Survey.

Rates for 30-year fixed-rate mortgages averaged 4.74 percent with an average 0.8 point, up from 4.71 percent last week but down from 4.99 percent a year ago. The 30-year fixed-rate mortgage hit a low in records dating to 1971 of 4.17 percent during the week ending Nov. 11.