What's Hot: Barnes and Noble Will Return to Georgetown in June | The 3,000 Units On The Boards From Trinidad to Gallaudet
4.33: For Second Week, Mortgage Rates Inch Up
Mortgage rates ticked up slightly this week, with Freddie Mac reporting 4.33 percent with an average 0.7 point on a 30-year fixed-rate mortgage. That’s up from 4.28 percent last week, when rates also rose a bit.
A year ago, long-term rates averaged 3.56 percent.
Freddie Mac’s chief economist, Frank Nothaft, said in a news release that the uptick could be due to the release of Federal Reserve meeting minutes in the past week, which led to an upward tick in 10-year Treasury yield rates and “indicated little possibility of a pause in the central bank’s reduction of bond purchases.” He continued:
“Housing starts in January fell 16 percent to a seasonally adjusted annual rate of 888,000 units, below consensus forecast. Permits were at a seasonally adjusted annual rate of 937,000 in January, also below consensus.”
We’re tracking mortgage rates over time in this handy 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: mortgage rates
This article originally published at https://dc.urbanturf.com/articles/blog/4.33_for_second_week_mortgage_rates_inch_up/8149.
Most Popular... This Week • Last 30 Days • Ever
Rossdhu Gate is the remaining piece of a 30-room castle built by socialite Daisy Calh... read »
A Home Equity Line of Credit, commonly referred to as HELOC, is a borrowing product t... read »
Georgetown Metropolitan reported on Tuesday that the Instagram account for the nation... read »
The Gen Z market; ranking food halls around DC; and is this the new king of Queens?... read »
The term "luxury" has been applied broadly in the housing market, but a new report ai... 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