"Boring is good when you're watching mortgage rates. This week, once again, delivered no plot twists. The average 30-year fixed mortgage rate fell two basis points to 5.99% in the week ending Feb. 12, according to rates provided to NerdWallet by Zillow. A basis point is one one-hundredth of a percentage point. According to our data, the weekly average has stayed within a narrow 5.9% to 6.1% range for eight consecutive weeks."
"January's better-than-expected employment report signaled that the economy isn't cooling as quickly as some had anticipated. The Labor Department's report showed employers added 130,000 jobs last month, while the unemployment rate improved slightly to 4.3%. But beneath the optimistic headline was an important footnote. Annual revisions to the jobs data showed that the past two years of job growth were much weaker than first reported. The size of the revision - more than 1 million jobs - was big enough to turn heads."
Average 30-year fixed mortgage rates fell two basis points to 5.99% for the week ending Feb. 12, with the weekly average holding between 5.9% and 6.1% for eight consecutive weeks. January's jobs report showed employers added 130,000 jobs and the unemployment rate eased to 4.3%, while annual revisions revealed more than 1 million fewer jobs over the past two years than previously reported. Forecasters expect the Federal Reserve to keep the federal funds rate unchanged at its March meeting. Existing home sales dropped 8.4% from December to January and available inventory declined 0.8% amid winter storms.
Read at SFGATE
Unable to calculate read time
Collection
[
|
...
]