October Employment Numbers Boost Mortgage Rates

October's stronger-than-expected jobs report gave some upward thrust to mortgage rates this week, according to surveys from ""Freddie Mac"":http://www.freddiemac.com/ and finance website ""Bankrate.com"":http://www.bankrate.com/.

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Freddie Mac's Primary Mortgage Market Survey shows the average interest rate for the 30-year fixed-rate mortgage (FRM) climbing to 4.35 percent (0.7 point) for the week ending November 14, up from 4.16 percent last week. A year ago, the 30-year FRM averaged 3.34 percent.

The 15-year FRM averaged 3.35 percent (0.7 point) this week, increasing from 3.27 percent.

On the adjustable rates side, the 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.01 percent (0.4 point), up from 2.96 percent. The 1-year ARM came out to an average 2.61 percent (0.4 point), unchanged from last week.

Bankrate's weekly national survey had the 30-year fixed average rising to 4.48 percent, with the 15-year fixed increasing to 3.49 percent.

Bankrate's measure for the 5/1 ARM was 3.33 percent, up from 3.25 percent.

According to analysts for the site, October's employment numbers provided further proof that the month's government shutdown didn't do as much to slow down the economy as many feared.

""Both bond yields and mortgage rates moved up [following the report's release], particularly with some talk of a potential December tapering of bond purchases by the Federal Reserve,"" Bankrate said in a release. ""However, the economic data over the next month will determine whether the much anticipated taper actually materializes in December, or if a 2014 start is still the most likely outcome.""