Home-mortgage rates fell this week following news of a weaker job market, which 'may slow consumer spending and keep inflation at bay,' said Freddie Mac chief economist Frank Nothaft.
The 30-year fixed-rate mortgage averaged 5.03% in the week ended Thursday, down from 5.15% last week, according to Freddie Mac's weekly survey of conforming mortgage rates. The rate averaged 6.13% a year ago.
'The 30-year fixed-rate mortgage rate remains very close to January's all-time recorded low of 4.96%. Indeed, mortgage rates have drifted up and down only by about one-quarter of a percent in the first months of this year,' Nothaft said.
Wall Street Journal