Mortgage Rates

Residential Mortgage Rates on 30-year mortgages fell for the first time since early December as lower-than-expected job growth eased worries in financial markets about inflation.

Freddie Mac reported Thursday that 30-year, fixed-rate mortgages averaged 6.28 percent last week, down from 6.34 percent the previous week.

The small decline was the first drop in rates since Dec. 7 when 30-year mortgages had fallen to 6.11 percent, the lowest level since early 2006.

The decline last week came after a government report showed that the unemployment rated edged up to 4.6 percent in January when a fewer-than-expected 111,000 jobs were created.