By Breck Dumas | Fox Business
Mortgage rates jumped markedly this week, sending demand down for a second straight week.
Freddie Mac’s latest Primary Mortgage Market Survey, released Thursday, showed that the average rate on the benchmark 30-year fixed mortgage surged to 6.32% from last week’s reading of 6.12%. The average rate on a 30-year loan was 7.57% a year ago.
“Following the release of a stronger-than-expected September jobs report, the 30-year fixed rate mortgage saw the largest one-week increase since April,” said Sam Khater, Freddie Mac’s chief economist.