The average 30-year fixed-rate mortgage was 5.66 percent last week, down slightly from the previous week, when it stood at 5.67, according to Freddie Mac's Primary Mortgage Market Survey.

"Until the market gets a better read of how the economy performed at the end of last year and how the Fed interprets that information, interest rates will likely remain calm," said Frank Nothaft, Freddie Mac vice president and chief economist. "And it should get that read when the fourth quarter Gross Domestic Product (GDP) is released…"

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