After adding more jobs last month since March 2006, mortgage rates are holding steady as a consequence of the positive job number. Unemployment fell below 9% for the first time in two years. See the following article from The Street for more on this.
"Mortgage rates" is a trending search topic following the release of Freddie Mac’s(FMCC_) weekly survey which showed that the mortgage rates held steady below 5%. The 30-year fixed rate came in at 4.88% on Thursday, up slightly from 4.87% one week earlier, and down from 4.95% a year ago.
"Mortgage rates held steady amid a strong employment report," said Frank Nothaft, vice president and chief economist of Freddie Mac. "The private sector added 222,000 jobs in February, the most since March 2006 while the unemployment rate fell to 8.9%, the lowest share since April 2009 … More recently, mortgage applications jumped almost 16% over the week ended March 4, 2011 representing the largest percent increase since the week of June 11, 2009."
The average 15-year fixed mortgage rate remained at 4.15%.
"Pi Day" is a hot search topic because Monday, March 14, is the day that we celebrate the mathematical constant Pi, which is equal to roughly 3.14.
Physicist Larry Shaw created Pi Day in 1989 at the San Francisco Exploratorium. Shaw and his fellow staff members made a tradition of marching around the building and eating fruit pies.
Today Raytheon(RTN_) is celebrating by delivering hundreds of apple pies to math and science teachers at public schools within a 3.14-mile radius of its headquarters in Waltham, Mass.
This article has been republished from The Street. You can also view this article at The Street, a site covering financial news, commentary, analysis, ratings, business and investment content.