California Mortgage News

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March 5th, 2014 7:36 PM by Todd Perdew

NEWS —

The average rate for a 30-year fixed-rate mortgage rose to 4.28% in the week that ended Feb. 13 from 4.23% in the prior week, which was the lowest level since November, according to a Thursday report.

The number of Americans who applied to receive unemployment benefits rose last week and the gradual decline in claims since last year appears to have halted, perhaps a sign the U.S. labor market is not healing as fast as it was toward the end of 2013.

Initial jobless claims climbed by 8,000 to a seasonally adjusted 339,000 in the seven days ended Feb. 8, the Labor Department said Thursday. Economists polled had expected claims to total 330,000. The latest claims, along with a weak retail sales report, dragged U.S. stocks lower in early Thursday action.

10 year Bond hits 2.75% this morning helping to improve rates.
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Posted by Todd Perdew on March 5th, 2014 7:36 PM