Realtor.com reports:
Fixed-rate mortgages saw a slight decline this week. The downward move comes after rates saw a healthy increase over the past three weeks in response to positive economic reports, particularly in the growth of private-sector employment.
The drop in rates is seen as a response to a reduction in reports on economic indicators, as major markets brace for news from the Federal Open Market Committee meeting next week.
“Mortgage rates were little changed amid a light week of economic data releases,” Frank E. Nothaft, Freddie Mac vice president and chief economist, said in a statement.
“Of the few releases, total nonfarm payroll employment rose by 203,000 in November, and the unemployment rate declined to 7 percent. Also, single-family mortgage debt outstanding increased for the first time since 2008. This is a positive sign, as it reflects that the pick-up in new purchase-money originations has offset loan paydowns and led to a net increase in principal outstanding.”
