I would like to back up Klaus' answer with some Quantum Theory of Atoms in Molecules (QTAIM) results, based on a DF-BP86/def2-SVP calculation. Note that these are results, obtained without the consideration of solvation or condensed phases. I believe they still prove a valid point in the case of electronic structure theory.
I revisited this question in order to answer another, similar question. While putting more effort into this, I realised, that the here treated structures are actually transition states. This does not mean, that the addressed issues are invalidated. Even if the only exist for very short moments, they still exist and have to be considered.
In o-methylaniline you can clearly see the suggested intramolecular $\ce{H}$ bond. The distance $\mathbf{d}(\ce{N-H})=239.3~\mathrm{pm}$ is only little shorter than the sum of the van der Waals radii, $\mathbf{r}(\ce{N})=155~\mathrm{pm}$, $\mathbf{r}(\ce{H})=110~\mathrm{pm}$, but neglecting it is also wrong. Even if this interaction does only exist for very short periods of time, it still means, that it stabilises this state. It will however not be the dominant feature.
(Laplacian distribution, solid blue lines indicate charge depletion $\nabla^2\rho<0$, dashed blue lines indicate charge accumulation $\nabla^2\rho>0$,
Red spheres are bond critical points, purple spheres are ring critical points, black lines are bond paths, red lines are zero flux surfaces)
Steric effects are usually electronic or dispersive effects in disguise, hence they also refer to an intramolecular hydrogen bond. The average $\ce{N-H}$ bond is only about $\mathbf{d}_\text{av.}(\ce{N-H})\approx99-105~\mathrm{pm}$.
The solvation point made by user4604 should still be considered.
This interaction has to lower proton affinity and or lewis acid affinity and therefore decreases also basicity. Not so much because its electronic effects stabilise one particular conformation, but especially, making the lone pair unavailable for short periods of time.
You can also analyse this for o-methylbenzoic acid and here the effect changes direction.
In benzoic acid there is already some intramolecular hydrogen bonding from the ortho hydrogens, one of these is still present in the substituted case. The distance $\mathbf{d}(\ce{O-H_{o'}})=226.2~\mathrm{pm}$ is only little shorter than the sum of the van der Waals radii, $\mathbf{r}(\ce{O})=151~\mathrm{pm}$, $\mathbf{r}(\ce{H})=110~\mathrm{pm}$, but neglecting it would still be wrong wrong.
The distance $\mathbf{d}(\ce{O-H_{Me}})=210.8~\mathrm{pm}$ is significantly shorter than the sum of the van der Waals radii. You can again see the interaction via a bond path, and ring critical points. In the optimised geometry, the methyl moiety is slightly rotated, giving rise to two equidistant interactions. The rotation of this group can be considered as a free rotation at room temperature.
It is noteworthy, that the bond critical point of the $\ce{O-H_{acid}}$ is almost at the position of the proton, which indicates also that most of the electron density already belongs to the oxygen.
It is also obvious, that the charge concentration in this bond is significantly lower than in any other $\ce{E-X}$ bond, which can indicate a weak bond.