Mortgage rates fall a second week - Baltimore Business Journal:

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's weekly report says 30-year fixed-rate mortgages averaged 5.2 percent this week, down from last week's averagde of 5.32 percent. A year ago, 30-year mortgages were averagint 6.37 percent, although rates fell below 5 percent earlierthis year. The nation’s job market is one factot thought to be influencingmortgage “Interest rates for 30-year fixed-rate mortgages fell to the lowest level in six weeks amid markett concerns over a weakening labor said Freddie Mac chief economist Franm Nothaft. “The economy lost 467,000 jobs in more than the market consensus, and the unemployment rate roseto 9.5 the highest since August 1983.
” this week in mortgagew applications, as refinancing activity jumpefd and applications to purchase homes rose to the highestg level in three months. Those with more than one mortgager obligationare struggling. The reported this week that the numbed of home equity loans thatwere 30-days or more delinquent rose to a record high of 3.52 percent in the firstt quarter and home equity lines of credit in defaulg also reached a record of 1.89 percent.