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Mortgage rates fell once more as economic worries accelerate on the heels of a disappointing jobs report and debt crises overseas, with rates for the 15-year fixed-rate mortgage slamming into new lows. Mortgage giant Freddie Mac found the 15-year loan cresting at 3.11 percent, a new all-time low below 3.13 percent seen in early March. Freddie also said that the 30-year loan yet again averaged 3.88 percent, down from 3.98 percent last week. The 5-year adjustable-rate mortgage fell from 2.86 percent to 2.85 percent, while the 1-year ARM went up to 2.80 percent from 2.78 percent.

First time claims for unemployment insurance jumped 13,000 to 380,000 for the week ended April 7, the Labor Department reported Thursday, the highest level since the end of January. At the same time the previous week's report was adjusted upward by 10,000, wiping out what had been a four-year low and showing an increase of 4,000 initial claims instead of an originally reported drop of 6,000 for the week ending in late March. Economists had expected initial claims would increase - from the original report - to 359,000. The week-over-week jump in first time claims was the second straight of the year.

The economy continued to expand at a modest to moderate pace from mid-February through late March, the Federal Reserve said Wednesday in its periodic Beige Book. The central bank reported faster and solid growth in Kansas City and Minneapolis but moderate or modest growth in Boston, Atlanta, Chicago, Dallas, San Francisco Cleveland, and St. Louis. New York reported economic growth picked up somewhat while Philadelphia and Richmond cited improving business conditions. Banking conditions remained stable, the Beige Book said, with modest improvements in demand for lending.

Mortgage rates fell to lows not seen in a month on the heels of an underwhelming jobs report and concerns that Spain may follow Greece into default-scenario territory. Real estate Web site Zillow found interest rates for the 30-year fixed-rate mortgage zigzagging across the country, just as it fell from 3.81 percent to 3.73 percent this week. Rates for the 15-year loan hovered near 2.95 percent, while those for 5-year and 1-year adjustable-rate mortgages slumped to 2.56 percent. The Labor Department flattened expectations by reporting that the economy added only 120,000 jobs in March.

Home prices slid 0.9 percent in January before likely slowing to a crawl in February, analytics provider Lender Processing Services said Monday. The company released a Home Price Index that showed home prices averaging $195,000, signaling a seventh straight month of price declines. Of nearly 600 metro areas, 524 encountered price declines, with a dip in prices for 39 states. Pittsburgh emerged from the largest 26 metro areas as the only city to experience increases in average home prices since January 2005.

For many Americans, 2012 may be the year to own a new home and trade up on the mortgage, if results from Fannie Mae's latest survey say anything. The mortgage giant released results Monday that found 33 percent of respondents with the expectation that home prices will increase over the next year, a 5 percentage point climb from the month before and the highest over the last 12 months. The respondents said that home prices could tick up by 0.9 percent over the next year, just as 39 percent of Americans agreed that mortgage rates will likely ascend in the next year.

Mortgage solutions company Calyx Software has announced the addition of a new account sales representative. Calyx recently revealed that Jim Dymek has joined its roster of sales professionals. [IMAGE] In his new role for the company, Dymek will focus on small-to-midsize lenders.

Residential Finance Corporation has hired a new director of operations for the company's recently opened location in Charlotte, North Carolina. The national mortgage lender has named industry veteran Leslie Bondy to the leadership position for RFC. With more than 20 years of industry experience, Bondy will be responsible for all mortgage lending operations in RFC's Charlotte branch. Her duties encompass processing, underwriting, and closing loans for the company. Bondy joins RFC from her previous role as a senior program manager and operations director for Zenta Mortgage Services.

In Idaho, DocuTech has added two new team members within its mortgage document compliance division. The company recently hired Sandra Griebe to head up DocuTech's integration team, along with appointing Gregg Holsapple as vice president of product management. Griebe joins DocuTech as the company's director of integrations for its mortgage document compliance software. In her new role, Griebe will be responsible for managing and improving integration operations with national technology partners, ensuring that users benefit from simple access methods and product offerings.

A new study from FICO revealed that banking professionals are raising their expectations for loan repayments and credit availability. The survey, which was conducted by the Professional Risk Managers' International Association (PRMIA) on behalf of FICO, showed a reversal in sentiments among U.