Morning Minute: Mortgage rates continue to hover near record lows

Freddie Mac reports today that mortgage rates “remain settled in near record lows” with the 30-year, fixed rate averaging 3.40 percent, up slightly compared to last week’s 3.39 percent. The 15-year, fixed rate averaging 2.69 percent, down from last week’s 2.70 percent. Read the full release from Freddie Mac.

“Mortgage rates remained near record lows following the employment report for October. The economy added 171,000 jobs, above the market consensus forecast, and the two prior months were revised up a combined 84,000. The Labor Department also reported that the unemployment rate ticked up to 7.9 percent and that average hourly wages were unchanged.”  — Frank Nothaft, vice president and chief economist, Freddie Mac.

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