Mortgage rates managed to stay near record lows after the September employment report, with a slight increase in the week ending October 11, according to Freddie Mac.
After dropping to an all-time low in the previous week, 30-year fixed-rate mortgages averaged 3.39 percent, up from 3.36 percent, according to the government-sponsored enterprise's Primary Mortgage Market Survey. Last year at this time, they averaged 4.12 percent.
Fifteen-year FRMs were up slightly as well, jumping from 2.69 to 2.7 percent. A year ago at this time, 15-year FRMs averaged 3.37 percent.
"Mortgage rates were little changed this holiday week following the employment report for September," said Frank Nothaft, vice president and chief economist at Freddie Mac. "Payroll employment increased by 114,000 workers, although manufacturing jobs dipped for the second month in a row."
Despite the slight increase, rates have now been below 4 percent for all of 2012, which have helped fuel the recovery of the real estate market and could potentially help the resurgence of the overall economy.
