Bankrate

Mortgage interest rates were mostly lower compared to a week ago, according to Bankrate data. Rates for 30-year fixed, 15-year fixed and jumbo mortgages declined, while rates for adjustable rate mortgages increased. Mortgage rates aren’t influenced by one sole factor, but rather a combination of economic indicators. Most recently, the April employment report from the Labor Department found that job growth and unemployment both posted stronger numbers than expected. “Regardless of what may be happening on Wall Street, where half of the stock market valuations are held by the top 1 percent of the population, Main Street America continues to move forward,” said Lawrence Yun, chief economist for the National Association of Realtors® (NAR), said in a statement on the jobs report.

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