Mortgage Rates Dip Following Disappointing Employment Report

The journey downward has begun again. After remaining relatively steady last week, mortgage rates this week hit new lows, as indicated by industry reports released Thursday. Freddie Mac says 30-year fixed-rate mortgages are now averaging 4.72 percent. The GSE’s chief economist, Frank Nothaft, explained that bond yields headed lower this week following the relatively weak employment report, and mortgage rates followed.