Rates fell for the first time in a month in response to the crisis in Ukraine and mixed economic data released before the jobs data was published on Friday after which rates started trending upwards again. Freddie Mac announced that for the week ending March 6, 30-year fixed rates decreased to 4.28% from 4.37% the week before. The average for 15-year loans fell to 3.32%. Adjustable rates were mixed last week with the average for one-year adjustables stable at 2.52% and five-year adjustables falling to 3.03%.
A year ago, 30-year fixed rates were at 3.52%. Attributed to Frank Nothaft, vice president and chief economist, Freddie Mac — “Fixed rates on home loans were down this week as real GDP was revised downwards to 2.4 percent growth in the fourth quarter of 2013. Fixed residential investment negatively contributed to GDP decreasing 8.7 percent in the fourth quarter.
The private sector added an estimated 139,000 jobs in February, which was below the market consensus and followed a downward revision of 48,000 jobs in January, according to the ADP Research Institute
