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Mortgage rates remain unchanged in short week


Mortgage rates remained essentially unchanged in a short week that included the Labor Day holiday, Freddie Mac reported Thursday.

The 30-year fixed rate averaged 3.9 percent, which was up a single basis point from the prior week. A year ago, the rate average 4.12 percent. Other rates rose or fell marginally.

Sean Becketti, Freddie’s chief economist, said the August jobs report didn’t provide a clear signal to the Federal Reserve board, which will meet next week and is expected to consider raising the short-term interest rate.

“The employment report released last Friday provided mixed signals, adding one more note of uncertainty prior to the Fed's September meeting,” Becketti said in a news release.

“The unemployment rate dropped to 5.1 percent in August, the lowest rate since April 2008, but only 173,000 jobs were added, well below expectations. Wages grew 2.2 percent, a neutral indication at best."

 


 

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