What's Hot: RFK Stadium Cleared For Demolition | Airbnb Unveils Icons
4.6%: Mortgage Rates Continue to Rise
Long-term mortgage rates rose again this week, as Freddie Mac reported that the average on a 30-year fixed-rate mortgage increased to 4.6 percent with 0.7 of a point, up from 4.51 percent last week. While rates increased ever so slightly last week from the previous week (4.5 to 4.51 percent), this week’s rise was the largest in about nine weeks as rates followed treasury yields higher.
However, despite the increase, rates remain historically low. To put today’s long-term rate in perspective, if you were to buy a $499,000 home today using conventional financing (assuming 20 percent down) versus April 201 (when long-term rates were 5.21 percent), you are looking at a monthly savings of about $150.
Here’s a look at the path of rates since last January:
See other articles related to: freddie mac, interest rates, mortgage rates
This article originally published at https://dc.urbanturf.com/articles/blog/4.6_mortgage_rates_continue_to_rise/3769.
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