Low Inflation Keeps Rates at Low Levels

All primary market mortgage rates except those for one-year Treasury-indexed adjustable-rate mortgages held steady for the week that ended Thursday, according to Freddie Mac.

Freddie's chief economist, Frank Nothaft, said market perception of slow growth and low inflation in the wake of the Federal Reserve's Sept. 21 policy statement removed upward pressure on most mortgage rates.

The average rate charged for 30- and 15-year loans remained near record lows. The 15-year was at 3.82%, and the 30-year at 4.37%.

The average five-year rate for hybrid Treasury adjustables slipped 1 basis point, to 3.54%, while the average rate for one-year Treasury ARM rose 6 basis points, to 3.46%.

A year ago, the 30-year averaged 5.04%.