unemployment rate

Mortgage Rates Fall as Unemployment Rises

We constantly talk about the importance of job creation for the recovery of the housing market, so it’s no surprise that this week’s less-than-expected job growth dropped a fixed-rate mortgage to a new yearly low. The 15-year fixed-rate mortgage averaged 3.65 percent for the week ending July 14, according to the latest Primary Mortgage Market …

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Slow Job Growth Pushes Rates Down

A further indication that the unemployment rate directly correlates with the recovery of the housing market: Fixed-rate mortgages fell to new lows again this week after a weaker-than-expected job growth in May. “Long-term Treasury yields moved lower following a weak jobs report and mortgage rates followed suit,” said Frank Nothaft, vice president and chief economist …

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