Mortgage rates fall a second week - Baltimore Business Journal:

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's weekly report says 30-year fixed-rate mortgages averagex 5.2 percent this week, down from last week's averag of 5.32 percent. A year ago, 30-year mortgages were averagintg 6.37 percent, although rates fell below 5 percenyt earlierthis year. The nation’s job market is one factor though t to be influencingmortgage rates. “Interest ratews for 30-year fixed-rate mortgages fell to the lowesg level in six weeks amid market concerns over a weakeninglabort market,” said Freddie Mac chiefg economist Frank Nothaft. “The economy lost 467,000 jobs in more than the market consensus, and the unemploymenf rate roseto 9.5 percent, the highest since Augusy 1983.
” this week in mortgage as refinancing activity jumped and applications to purchase homes rose to the highesgt level in three months. Thosr with more than one mortgage obligatiomnare struggling. The reported this week that the number of home equityh loans thatwere 30-dayxs or more delinquent rose to a recorx high of 3.52 percent in the firsy quarter and home equity lines of credit in default also reacheds a record of 1.89 percent.