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Little sign of inflation as US consumer prices unchanged in January for 2nd straight month

U.S. consumer prices were flat last month, the latest sign inflation is in check. That could give the Federal Reserve leeway to continue its efforts to stimulate growth.

The Labor Department says the consumer price index has risen 1.6 percent in the 12 months ending in January. That's down from a 2.9 percent pace a year ago.

Excluding the volatile food and energy categories, core prices rose 0.3 percent in January, pushed up by higher costs for apparel, air fares and rents. Core prices have risen 1.9 percent in the past year, below the Fed's inflation target.

The Fed is purchasing $85 billion in Treasurys and mortgage bonds each month in an effort to keep interest rates low. Last month, some Fed policymakers expressed concern the purchases could cause inflation.

Bank Rates

Loan Type Graph Rate +/- Last Week
30 Y Fixed Graph 3.93% up 3.87%  
15 Y Fixed Graph 2.99% dw 3.03%  
30 Y Fixed Jumbo Graph 4.26% dw 4.29%  
5/1 ARM Graph 3.28% dw 3.36%  
5/1 Jumbo ARM Graph 3.80% dw 3.83%  
Loan Type Graph Rate +/- Last Week
$30K HELOC Graph 4.69% up 4.61%  
$50K HELOC Graph 4.10% up 4.04%  
$30K Loan Graph 4.48% -- 4.48%  
$50K Loan Graph 4.12% up 4.10%  
$75K Loan Graph 4.12% up 4.10%  
Loan Type Graph Rate +/- Last Week
36 M New Graph 3.23% up 3.03%  
36 M Used Graph 3.33% up 3.25%  
48 M New Graph 3.33% up 3.11%  
48 M Used Graph 2.91% up 2.82%  
60 M New Graph 3.31% up 3.10%  
Loan Type Graph Yield +/- Last Week
6 month Graph 0.34% dw 0.36%  
1 yr Graph 0.61% dw 0.63%  
5 yr Graph 1.39% dw 1.41%