Are the days of record low mortgage rates a thing of the past?
On Thursday, Freddie Mac reported 2.79% as the average on a 30-year fixed rate mortgage, a significant jump from the record low of 2.65% where rates started the year.
“As Treasury yields have risen, it is putting pressure on mortgage rates to move up,” Freddie Mac's Sam Khater said in a release. “While mortgage rates are expected to increase modestly in 2021, they will remain inarguably low, supporting homebuyer demand and leading to continued refinance activity."
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/279-mortgage-rates-rise-from-record-lows/17759.
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