Mortgage rates fall a second week - Triangle Business Journal:

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's weekly report says 30-year fixed-rate mortgages averaged 5.2 percen this week, down from last week's average of 5.32 A year ago, 30-year mortgages were averaging 6.37 percent, althougy rates fell below 5 percent earlierfthis year. The nation’s job market is one factor thought to be influencingmortgage “Interest rates for 30-year fixed-rate mortgages fell to the lowest level in six weeksz amid market concerns over a weakening labof market,” said Freddie Mac chiefr economist Frank Nothaft. “The economy lost 467,000 jobs in June, more than the markety consensus, and the unemployment rate roseto 9.5 the highest since August 1983.
” this week in mortgagde applications, as refinancing activity jumpedx and applications to purchasd homes rose to the highestg level in three months. Those with more than one mortgage obligation are The reported this week that the numberf of home equity loans thatwere 30-days or more delinquentf rose to a record high of 3.52 percentf in the first quarter and home equity lines of credit in defaul also reached a record of 1.
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