Mortgage Rates Below 4 Percent For Three Straight Months
Long-term mortgage rates dropped this week, and have now been below 4 percent for three straight months.
This morning, Freddie Mac reported 3.88 percent with an average 0.8 point as the average on a 30-year fixed mortgage. Last year at this time, rates were at 4.88 percent.
Freddie Mac vice president and chief economist Frank Nothaft on the low rates and housing affordability:
“With these historically low rates and declining house prices, the typical family had more than double the income needed to purchase a median-priced home in January, according to the National Association of Realtors® Housing Affordability Index which registered the highest reading since records began in 1970.”
Here’s a look at the path of rates since January 2010:
See other articles related to: freddie mac, interest rates, mortgage rates
This article originally published at https://dc.urbanturf.com/articles/blog/mortgage_rates_below_4_percent_for_three_months/5261.
Most Popular... This Week • Last 30 Days • Ever
Plans for the development at a prominent DC intersection began nearly eight years ago... read »
DC's homebuyer assistance programs can be a bit complex. This edition of First-Timer ... read »
DC and Virginia lead the way in terms of where prices have risen the most this year.... 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 »
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