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
Nearly 1,400 residential units are on the boards around Union Market, about the same ... read »
Plans are moving forward at the site of a long-planned project in Ivy City, however w... read »
Plans recently filed with DC's Historic Preservation Office (HPO) outline plans for a... read »
As a homeowner, it's important to understand the types of insurance you need to prote... read »
If there was ever a place where the old adage “one man’s trash is another man’s... read »
- Hotels, A Public Park and The 1,400 Units In The Works For Union Market
- Douglas Development Pitches Large Warehouse For New City Site Along New York Avenue
- Raising Canes Opening M Street Location in Georgetown
- What Types of Insurance Do You Need When You Own a Home?
- Tile, Furniture, Appliances & (Much) More -- The Local Warehouse Chock Full of Salvaged Home Goods
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