The 30-year fixed-rate average slumped down to 4.13%, which was down from 4.28% a week ago. The 30-year fixed rate -- which was 4.58% this past August -- had fallen for the past month and a half. It was the lowest in late June, for which it was below 4 percent.
The 15-year fixed rate reached it's highest level in August at 3.6%. Since June, it's remained above 3%.
"Mortgage rates slid this week as the partial government shutdown led to market speculation that the Federal Reserve will not alter its bond purchases this year," Frank E. Nothaft, the vice president and chief economist of Freddie Mac, said in a statement. "The weak employment report for September added to this expectation. The economy added just 148,000 jobs, which was below the market consensus forecast and less than the 193,000 jobs increase in August."
Additionally, it was noted that mortgage applications have shown a slight decrease.
