Mortgage rates up slightly as economy adds jobs

Fed may scale back or end efforts to keep rates low if job gains continue

SALE! Save $150 off
Inman Connect San Francisco tickets

Use code 'MDsale150' at checkout

Mortgage rates were up slightly this week following an upbeat employment report showing that the economy added 155,000 jobs in December, Freddie Mac said in releasing the results of its latest Primary Mortgage Market Survey.

At 7.8 percent, the unemployment rate is now at its lowest point since December 2008. If unemployment continues to drop, the Federal Reserve is expected to scale back or end measures aimed at keeping long-term interest rates low.