Industry NewsMortgage

Mortgage rates post second week of gains

Latest numbers suggest US job market stabilizing
Published on Aug 9, 2012

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by CareyBot

Mortgage rates have moved higher off of record lows for the second consecutive week amid signs that the U.S. job market is stabilizing, according to a weekly survey by Freddie Mac.

For 30-year fixed-rate mortgages, rates averaged 3.59 percent with an average 0.6 point for the week ending Aug. 9, up from 3.55 percent last week but down from 4.32 percent a year ago, according to Freddie Mac's Primary Mortgage Market Survey. Rates on 30-year fixed-rate mortgages hit an all-time low in Freddie Mac records dating to 1971 when they fell to 3.49 percent during the week ending July 26.

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