What's Hot: RFK Stadium Cleared For Demolition | Airbnb Unveils Icons
4.22%: Mortgage Rates Bounce Off Record Low
Mortgage rates this week averaged 4.22 percent with 0.7 of a point for a 30-year fixed-rate mortgage, bouncing off last week’s all-time low of 4.15 percent. This time last year the FRM rate stood at 4.36 percent.
Freddie Mac vice president and chief economist Frank Nothaft had this to say about this week’s slight bump:
“Fixed mortgage rates followed Treasury bond yields higher this week while data reports suggest an improvement in the housing market. The Federal Housing Finance Agency national House Price Index rose for the third straight month in June bolstered by a 3.3 percent gain in the East North Central Census Division. In addition, the Mortgage Bankers Association reported that the serious delinquency rate (90 days or more plus foreclosures) on mortgages outstanding fell for the sixth consecutive quarter at the end of June to 7.85 percent.”
Here’s a look at the path of rates since last January:
See other articles related to: mortgage rates
This article originally published at https://dc.urbanturf.com/articles/blog/4.22_mortgage_rates_bounce_off_record_low/4058.
Most Popular... This Week • Last 30 Days • Ever
Georgetown Metropolitan reported on Tuesday that the Instagram account for the nation... read »
A Home Equity Line of Credit, commonly referred to as HELOC, is a borrowing product t... read »
The National Park Service has given the green light for DC's 62 year-old stadium to b... read »
UrbanTurf continues our tour of neighborhood developments around the region as we tak... read »
A regular inclusion as one of DC's most expensive housing markets, Georgetown remains... 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