Mortgage Rates Dip Following Mixed Jobs Report: Freddie

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Mortgage rates fell slightly compared to last week, according to data released Thursday by Freddie Mac.

The government-sponsored enterprise said in a press release that rates for 30-year, fixed-rate mortgages dipped one basis point, to 4.01%. Average rates for 15-year mortgages also dropped by a single point, to 3.2%.

Five-year, adjustable-rate mortgages increased 5 basis points, to 3.02%. Rates on one-year treasury-indexed mortgages fell 2 basis points, to 2.43%.

“Fixed mortgage rates were slightly down on mixed results from October’s employment report,” said Frank Nothaft, Freddie Mac’s chief economist. “While the unemployment rate declined to 5.8%, nonfarm employment rose by 214,000 jobs, which was below consensus expectations.”

Article source: http://www.nationalmortgagenews.com/news/origination/mortgage-rates-dip-following-mixed-jobs-report-freddie-1043126-1.html

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