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Mortgage rates hit a new record low again in May.

Thanks in part to last week’s disappointing employment report, fixed mortgage rates fell again this week to yet another record low.

The small amount of job growth in the private sector, reported as just 41,000 new jobs in May, highlighted the questionable strength of the recovery of the U.S. economy. Rates on fixed mortgages dropped as a result, said financial site Bankrate. According to the site’s national survey, the new rate for 30-year fixed-rate mortgages is 4.88 percent, down from 4.95 percent last week.

The reason for the drop, the site said, was that the weak job market scared investors into U.S. Read the full post