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US employers added modest 113,000 jobs in Jan.; unemployment falls to 5-year low of 6.6 pct.

Hiring was surprisingly weak in January for the second straight month, likely renewing concern that the U.S. economy might be slowing after a strong finish last year.

The Labor Department says employers added 113,000 jobs, less than the average monthly gain of 194,000 in 2013. This follows December's tepid increase of just 75,000. Job gains have averaged only 154,000 the past three months, down from 201,000 in the preceding three months.

Still, more people began looking for work in January, and some of the jobless were hired, reducing the unemployment rate to 6.6 percent. That's the lowest since October 2008.

Cold weather likely held back hiring in December, economists said, but the impact faded in January. Construction firms, which sometimes stop work in bad weather, added 48,000 jobs last month.

Bank Rates

Loan Type Graph Rate +/- Last Week
30 Y Fixed Graph 4.22% up 4.18%  
15 Y Fixed Graph 3.19% dw 3.20%  
30 Y Fixed Jumbo Graph 4.37% up 4.29%  
5/1 ARM Graph 3.30% dw 3.31%  
5/1 Jumbo ARM Graph 3.36% up 3.28%  
Loan Type Graph Rate +/- Last Week
$30K HELOC Graph 4.38% dw 4.54%  
$50K HELOC Graph 4.06% dw 4.09%  
$30K Loan Graph 5.07% dw 5.08%  
$50K Loan Graph 4.55% dw 4.56%  
$75K Loan Graph 4.55% dw 4.56%  
Loan Type Graph Rate +/- Last Week
36 M New Graph 3.06% -- 3.06%  
36 M Used Graph 3.29% -- 3.29%  
48 M New Graph 3.05% up 2.96%  
48 M Used Graph 2.88% dw 2.96%  
60 M New Graph 3.08% dw 3.21%  
Loan Type Graph Yield +/- Last Week
6 month Graph 0.36% -- 0.36%  
1 yr Graph 0.60% -- 0.60%  
5 yr Graph 1.45% up 1.44%