Freddie Mac yesterday released the results of its Primary Mortgage Market Survey in which the 30-year fixed-rate mortgage averaged 5.21 percent with an average 0.6 point for the week ending April 8, 2010.  Last year at this time, the 30-year averaged 4.87 percent.  This is the highest the 30-year has been since the week ending August 13, 2009 when it averaged 5.29 percent.

Once again, mortgage rates followed bond yields higher amid a positive March employment report. The economy added 162,000 jobs, which was the largest monthly gain over the past three years.  In addition, revisions raised the January and February figures by a combined 61,000 workers. Excluding government employees, private payrolls rose for the third consecutive month and were the strongest increase since May 2007.