The final Freddie Mac survey of mortgage rates showed interest rates for fixed-term loans were both well below their 2010 levels when New Year's arrived, which is good news for potential buyers if they can get loans.

Reduced demand may be working in their favor, however.

A 30-year home loan wound up 2011 at 3.95 percent, The Wall Street journal reported. The rate for a fixed-rate mortgage has been at or below 4 percent for the past nine consecutive weeks and got above 5 percent only twice during the year. The rate was 3.91 percent the previous week and 4.86 percent 12 months earlier, the paper reported.

"Rates on 15-year fixed-rate mortgages averaged 3.24 percent, up from 3.21 percent last week and below 4.20 percent a year earlier," the Journal said. Adjustable-rate mortgages were at an average 2.88 percent for a five-year guarantee and 2.78 percent for a one-year lock.

At the same time, buyers who could get loans may have moved already, leaving b anmks that do want to make mortgages to chase the buyers.

"Applications for refinancing are 17% below this year's peak in September, according to the latest data from the Mortgage Bankers Association," the Journal reported.

The information derives from Freddie Mac's Primary Mortgage Market Survey.

"Mortgage rates ended the year hovering near historic lows in an already affordable housing market," Frank Nothaft, Freddie Mac's vice president and chief economist, said. "It's not surprising then that over 5 percent of households in December plan to purchase a home over the next six months, the highest share since May, according to The Conference Board.