Average mortgage rates came down across the board from a week ago, according to Bankrate data. Rates for 30-year fixed, 15-year fixed, 5/1 ARMs and jumbo loans all moved lower.

Changes in mortgage rates are caused by several things, some more influential than others. The Federal Reserve has put the brakes on cutting rates as inflation stays elevated. The latest inflation report from the Labor Department showed an unexpectedly higher reading.

Also in the picture: employment. The latest jobs report for February revealed the labor market softened somewhat, with unemployment rising to 4.1 percent.

 

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