(Voice of Bankrate.com reporter, Kristin Arnold talking)
Mortgage rates continue their eight week slide, hitting new lows for 2011. The average rate on a 30-year fixed-rate mortgage inched downward to 4.65 percent ... dropping four basis points. The popular 15-year fixed-rate mortgage also fell 9 basis points to 3.79 percent.
Another fixed-rate product, the 30-year jumbo mortgage, averaged 5.19 percent, actually going up 3 basis points.
With continued reports on a barely recovering job market and ongoing weakness in the housing market ... even with record low mortgages rates -- people just don't feel confident enough to buy or simply can't.
Federal Reserve Chairman Ben Bernanke said in a speech on Tuesday that the economic recovery appears to be continuing at a moderate pace, but "at a rate that is both uneven across sectors and frustratingly slow from a perspective of millions of unemployed and underemployed workers."
Of course, if the time and price is right for you -- your smartest move is to shop for the best mortgages rates by visiting Bankrate.com. I'm Kristin Arnold.
Mortgage rates jumped this week.
The benchmark 30-year fixed mortgage rate held at 3.8 percent.
Mortgage rates remained in a holding pattern this week.
Mortgage rates edged up this week.
How did consumers respond when asked about job security, savings, net worth, and debt?
Comparison shopping will help you know deals from duds at a dollar store.
Looking to save money? Here are eight easy ways to save $5,000 in one year.
New car loan rates fell 1 basis point each.
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