Mortgage rates are sharply lower on news of a weakening job market, with the 30-year fixed loan averaging 3.88% this week and the 15-year fixed at a record low of 3.11%, according to Freddie Mac.
In another setback for the job market, new unemployment claims unexpectedly jumped last week, the government reported early Thursday.
The Freddie Mac survey, released each Thursday, asks lenders to report rates they are offering to borrowers with good credit and at least 20% downpayments or 20% home equity if they are refinancing. The borrowers would pay about 0.75% of the loan amount in upfront lender fees and discount points. The rates are for loans of up to $417,000.
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