Mortgage rates fell to their lowest levels since March because job growth has been surprisingly weak this summer.

The 30-year fixed-rate mortgage averaged 6.7% in the week ending Aug. 7, down from 6.87% the previous week. It’s the lowest average rate since the week ending March 13, when it was 6.62%.

A lousy jobs report

Rates began falling last Friday morning, right after the release of July’s employment report . The economy grew by 73,000 jobs, according to the Bureau of Labor Statistics. That was less than most economists were forecasting. Worse, the initial estimates for job growth in May and June were revised downward by a total of 258,000.

Investors were as surprised and disappointed as a kid who thought she was going to get a Barbie for her birthday, only to receive a box of pe

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