3.9: Interest Rates Essentially Unchanged
Mortgage rates stayed low this week, capping a summer of lower-than-average rates.
Freddie Mac reported this week that the 30-year fixed-rate mortgage was 3.90 percent with an average 0.6 point. This is a marginal increase from last week’s 3.89 percent rate. A year ago, rates sat at 4.12 percent.
Rates didn’t move much this week due to the holiday weekend and national employment statistics, according to Sean Becketti, Freddie Mac’s chief economist.
“Following a shortened week, mortgage rates were virtually unchanged, inching up 1 basis point to 3.90 percent. The employment report released last Friday provided mixed signals, adding one more note of uncertainty prior to the Fed’s September meeting. The unemployment rate dropped to 5.1 percent in August, the lowest rate since April 2008, but only 173,000 jobs were added, well below expectations.”
UrbanTurf is following the trajectory of 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.
See other articles related to: freddie mac, mortgage rates
This article originally published at https://dc.urbanturf.com/articles/blog/3.9_rates_stay_low_mostly_unchanged/10317.
Most Popular... This Week • Last 30 Days • Ever
Roadside Development filed a sketch plan with Montgomery County this month for the 30... read »
The Matthew is located on 9th Street, overlooking the iconic Naylor Court and neighbo... read »
Construction continues humming along on several developments on the uppermost stretch... read »
This week's Best New Listings include an award-winning craftsman, a condo in a former... read »
Today, we take a closer look at home insurance.... read »
- A First Look At The 525-Unit Development That Will Incorporate Silver Spring's Tastee Diner
- Nine Stylish Condominiums Debut in Shaw's Iconic Naylor Court
- The 1,600 Units In The Walter Reed/Takoma Development Pipeline
- Best New Listings: A Home On The Hill With a Pool?
- A Look at What is Covered By Home Insurance
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