Interest rates held steady this week despite the monthly jobs report falling short of expectations, according to Freddie Mac.
The 30-year fixed-rate mortgage averaged 3.9% for the week ending Sept. 10, which was 22 basis points lower than a year ago but 1 basis point higher than
The five-year Treasury-indexed adjustable-rate mortgage was down 2 basis points at 2.91% for the week, while the one-year Treasury-indexed ARM was up the same amount at 2.63%.
"The employment report released last Friday provided mixed signals, adding one more note of uncertainty prior to the Fed's September meeting," said Sean Becketti, Freddie Mac chief economist, in a news release.
"The unemployment rate dropped to 5.1% in August, the lowest rate since April 2008, but only 173,000 jobs were added, well below expectations. Wages grew 2.2%, a neutral indication at best."
