Mortgage rates drop on weak labor report
Mortgage rates fell this week as a weaker-than-expected employment report eased concerns about inflation.
Freddie Mac, the mortgage company, reported Thursday that rates on 30-year, fixed-rate mortgages averaged 6.62 percent, down from 6.67 percent last week, which had been the highest level in nearly four years.
Rates on 15-year, fixed-rate mortgages fell this week to 6.23 percent, down from 6.26 percent last week.