Mortgage Rates Drop After a Weak Jobs Report, Freddie Mac Says

Mortgage rates dropped after a weak jobs report, Freddie Mac said Thursday. The 30-year fixed-rate mortgage averaged 3.76% in the week ending Oct. 8, down from 3.85%. That's the eleventh straight week the 30-year benchmark has held below 4%. The 15-year fixed-rate mortgage averaged 2.99%, down from 3.07%; the 5-year Treasury-indexed hybrid adjustable rate mortgage averaged 2.88%, down from 2.91%; while the 1-year Treasury-indexed ARM averaged 2.55%, up from 2.53%.

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