Average fixed mortgage rates in the U.S. slipped in the latest
week, although the 30-year-fixed rate stayed above 4%, after a
mixed jobs report for October, according to mortgage-finance
company Freddie Mac.
"Fixed mortgage rates were slightly down on mixed results from
October's employment report," Freddie Mac Chief Economist Frank
Nothaft said in a release Thursday. "While the unemployment rate
declined to 5.8%, nonfarm employment rose by 214,000 jobs, which
was below consensus expectations."
He also noted upward revisions for jobs numbers in August and
September.
For the week ended Thursday, the 30-year fixed-rate mortgage
averaged 4.01%, compared with 4.01% a week earlier and 4.35% a year
earlier. Rates on 15-year fixed-rate mortgages averaged 3.20%,
compared with 3.21% the previous week and 3.35% a year earlier.
Five-year Treasury-indexed hybrid adjustable-rate mortgages, or
ARMs, on average, were at 3.02%, compared with 2.97% the previous
week and 3.01% a year earlier. One-year Treasury-indexed ARM rates
on average were 2.43%, down from 2.45% the previous week and 2.61%
a year earlier.
Write to Michael Calia at michael.calia@wsj.com
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