Both long and short-term rates eased in the first week of 2011, according to the most recent Freddie Mac survey.
Rates on 30-year fixed-rate mortgages averaged 4.77-percent, down from 4.86-percent in the final week of 2010.
“Mortgage rates began the new year a little lower this week and remained below those at the start of 2010,” said Freddie Mac Chief Economist Frank Nothraft in a prepared statement. “That should help aid the recovery in the housing market.”
See the full survey here.