3.59: Mortgage Rates Hit 2016 Lows
If you were waiting to jump into the home buying market until mortgage rates fell, news out today might persuade you to get off the fence.
The average rate on a 30-year fixed-rate mortgage was 3.59 percent this week, according to Freddie Mac. That’s down from 3.71 percent last week and 3.66 percent a year ago. It is the lowest that rates have been since February 2015.
story continues below
loading...story continues above
“Mortgage rates this week registered the delayed impact of last week’s sharp drop in Treasury yields as the 30-year mortgage rate fell 12 basis points to 3.59 percent,” Freddie Mac’s Sean Becketti said. “This rate marks a new low for 2016 and matches last year’s low in February 2015. Low mortgage rates and a positive employment outlook should support a strong housing market in the second quarter of 2016.”
UrbanTurf is following the path of the rates in this chart:
The UrbanTurf Mortgage Rate Disclaimer: The rates reported by Freddie Mac for 30-year mortgages are usually the best rates that the most qualified borrowers can get, so borrowers or those considering refinancing should not necessarily read this news and think that they can go out and get a loan with the quoted interest rate.
This article originally published at https://dc.urbanturf.com/articles/blog/3.59_mortgage_rates_hit_2016_lows/11081.
Most Popular... This Week • Last 30 Days • Ever
DC's homebuyer assistance programs can be a bit complex. This edition of First-Timer ... read »
When it comes to financing a home purchase, a 30-year mortgage is one of the most com... read »
Pocket listings are growing in popularity in the low-inventory market in the DC regio... read »
Margarite is a luxury 260-apartment property known for offering rich, high-end reside... read »
The owner of 700 Monroe Street NE filed a map amendment application with DC's Zoning ... read »
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro