By Lily Leung
4:50 p.m., June 9, 2011
Long-term Treasury yields moved lower following a weak jobs report and mortgage rates followed suit. The economy added 54,000 jobs in May, the fewest in eight months, and factories cut payrolls for the first time in seven months. As a result, the unemployment rate rose to 9.1 percent, representing the highest rate since December.
Frank Nothaft, the chief economist of Freddie Mac, on this week's average mortgage rates, which fell to their lowest levels this year.
The 30-year fixed this week was 4.49 percent, down from 4.55 percent last week. A year ago, it averaged 4.72 percent.
The 15-year fixed this week was 3.68 percent, down from 3.74 percent last week. A year ago, it was 4.17 percent.
Source: SignOnSanDiego
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