Mortgage Rates Set New 2011 Low

Mortgage rates have continued their decline and have set yet another 2011 low, according to the Wall Street Journal.

 

A decrease in new jobs has caused the mortgage rates to fall to the lowest point of the year. The decline in fixed rates represented the eighth-straight weekly fall.

This is a result of the statement by the Bureau of Labor Statistics this week that employers did not add nearly as many private-sector jobs as they expected.

Freddie Mac’s most recent survey shed light on the lower rates, and the downward trend is continuing.