Mortgage Rates Drop Below 4 Percent for the Fourth Time
Mortgage rates dropped ever so slightly this week with Freddie Mac reporting 3.99 percent with an average 0.7 of a point as the average on 30-year fixed mortgages this morning. Rates have been hovering near 4 percent for the past four weeks and have dropped below 4 percent four times since October 2011.
From Frank Nothaft, Freddie Mac’s chief economist:
Low rates and home prices have pushed housing affordability to record highs this year. The National Housing Affordability Index, which dates back to 1971, reached another all-time record high in October for the sixth time in 2011, according to the National Association of Realtors®. This level of affordability likely contributed to the rise in conventional mortgage applications for home purchases over the week of December 2nd to the most in nearly a year.
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/mortgage_rates_drop_below_4_for_the_fourth_time/4734.
Most Popular... This Week • Last 30 Days • Ever
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 »
The London-style carriage house was originally built in 1892 as part of the Frasier M... 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