Mortgage Rates Rise Slightly, Unemployment Falls

HousingWire says mortgage rates rose by only one basis point to 4.87 percent for the average 30-year fixed-rate mortgage (FRM), the third straight week of increases, according to the Freddie Mac Primary Mortgage Market Survey.  The average one year ago was 5.21 percent.  Rates on 15-year FRMs moved up one basis point from last week to 4.1 percent, but were well below 4.52 percent a year ago.  Additionally, the Bureau of Labor Statistics says unemployment fell for the fifth straight month, and the private sector gained 516,000 jobs in the first quarter of the year, the largest quarterly increase in five years.

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