WASHINGTON, Nov. 15 (Xinhua) -- U.S. mortgage rates stood at the highest level since 2011 this week, the U.S. Federal Home Loan Mortgage Corporation, commonly known as Freddie Mac, said on Thursday.

For the week ending November 15, 30-year fixed-rate mortgage (FRM) in the U.S. averaged 4.94 percent, according to Freddie Mac's newly-released survey.

"Despite recent market volatility, mortgage rates remained steady this week," said Sam Khater, chief economist of Freddie Mac, "the stability in mortgage rates reflects the moderation in inflationary pressures in the economy due to lower oil prices and subdued wage growth."

For the same period a year ago, the 30-year FRM averaged 3.95 percent, according to Freddie Mac.

The survey also showed that 15-year FRM this week averaged 4.36 percent, while the reading was 3.31 percent a year ago.

Freddie Mac is a corporation founded by U.S. Congress, aiming at promoting the stability and affordability in the U.S. housing market by purchasing mortgages from banks and other loan makers. The corporation has been conducting weekly surveys on U.S. mortgage rates since April 1971. Enditem

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