Mortgage rates fall a second week - Baltimore Business Journal:

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's weekly report says 30-year fixed-rate mortgagews averaged 5.2 percent this week, down from last week'd average of 5.32 percent. A year ago, 30-yead mortgages were averaging 6.37 percent, althoughy rates fell below 5 percent earlie rthis year. The nation’s job market is one factor thought to be influencingmortgage rates. “Interest rates for 30-year fixed-rate mortgages fell to the lowesft level in six weekd amid market concerns over a weakeninglabor market,” said Freddie Mac chiegf economist Frank Nothaft. “The economy lost 467,00p0 jobs in June, more than the market and the unemployment rate roseto 9.
5 the highest since August this week in mortgage as refinancing activity jumped and applications to purchas e homes rose to the highest levep in three months. Those with more than one mortgage obligatiohnare struggling. The reported this week that the numbert of home equity loans thatwere 30-days or more delinqueny rose to a record high of 3.52 percent in the firsyt quarter and home equity lines of credit in defaulr also reached a record of 1.
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