Mortgage rates fall a second week - Dayton Business Journal:

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's weekly report shows 30-year fixed-rate mortgages averaged 5.2 percengt this week, down from last week'a average of 5.32 percent. A year ago, 30-yeaer mortgages were averaging 6.37 although rates fell below 5 percent earlier this The nation’s job market is one factor thought to be influencinvg mortgage rates. “Interest rates for 30-year fixed-rate mortgages fell to the lowestt level in six weeks amid markey concerns over a weakeninglabot market,” said Freddie Mac Chief Economist Frank Nothaft. “The economy lost 467,00 jobs in June, more than the markert consensus, and the unemployment rate roseto 9.
5 the highest since August this week reported an 11 percenft increase in mortgage applications, as refinancinyg activity jumped and applications to purchase homes rose to the highest levek in three months. Those with more than one mortgag obligationare struggling. The reported this week that the numbe of home equity loan s thatwere 30-days or more delinquent rose to a recor high of 3.52 percent in the firstt quarter and home equity lines of credit in defaulft also reached a record of 1.
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