Mortgage rates hold steady again near 2011 lows

Demand for purchase loans up from year ago

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Mortgage rates held steady this week, remaining at or near their 2011 lows for the second week in a row, Freddie Mac said in releasing the results of its Primary Mortgage Market Survey.

A separate survey by the Mortgage Bankers Association showed demand for purchase loans dropped slightly last week, but that applications were still up from a year ago.

Freddie Mac’s survey showed rates on 30-year fixed-rate mortgages averaging 4.5 percent with an average 0.8 point for the week ending June 23 — unchanged from last week and just a hair above the 4.49 percent low for the year seen during the first week of June.

Rates on 30-year fixed-rate mortgages hit an all-time low in Freddie Mac records dating to 1971 of 4.17 percent during the week ending Nov. 11, 2010, before rebounding to a 2011 high of 5.05 percent in February. At this time a year ago, the 30-year mortgage averaged 4.69 percent.