Mortgage Rates Dip to Lowest Level in Three Years
Long-term mortgage rates dropped this week to their lowest level since 2013.
The average rate on a 30-year fixed-rate mortgage was 3.59 percent this week, according to Freddie Mac. That’s down from 3.61 percent last week and 3.85 percent a year ago.
story continues below
loading...story continues above
“Disappointing April employment data once again kept a lid on Treasury yields, which have struggled to stay above 1.8 percent since late March,” Freddie Mac’s Sean Becketti said. “As a result, the 30-year mortgage rate fell 4 basis points to 3.57 percent, a new low for 2016 and the lowest mark in 3 years.” With the latest drop, mortgage rates have now fallen 14 of the last 19 weeks.
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.
This article originally published at https://dc.urbanturf.com/articles/blog/mortgage_rates_dip_to_lowest_level_in_three_years/11225.
Most Popular... This Week • Last 30 Days • Ever
A Cathedral Heights condominium—located on Cathedral Avenue—with outstanding buil... read »
In this article, UrbanTurf will explain what special assessments are, how they work, ... read »
Plans are moving forward at the site of a long-planned project in Ivy City, however w... read »
Nearly 1,400 residential units are on the boards around Union Market, about the same ... read »
Up 8% year-over-year, it is the first time that prices have exceeded $800,000 for det... read »
- Two Bedrooms with Two Balconies on the Market in Amenity-Packed Cathedral Heights Condominium
- What Are Special Assessments in Condo Buildings and What Do They Cover?
- Douglas Development Pitches Large Warehouse For New City Site Along New York Avenue
- Hotels, A Public Park and The 1,400 Units In The Works For Union Market
- The Price For A House in The DC Area Hit A New High in April
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