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3.41%: Mortgage Rates Head Toward Record Lows

  • July 7, 2016

by UrbanTurf Staff

3.41%: Mortgage Rates Head Toward Record Lows: Figure 1

Whether Brexit is the reason or not, long-term mortgage rates continue to head south.

Rates averaged 3.41 percent with an average 0.5 point, Freddie Mac reported on Thursday. This is seven basis points lower than last week, and just ten basis points above the all-time low reached back in 2012. Last year at this time, rates averaged 4.04 percent.

“Continuing fallout from the Brexit vote drove Treasury yields lower again this week,” Freddie Mac’s Sean Becketti said in a statement. “Mortgage rates have now dropped 15 basis points over the past two weeks, leaving them only 10 basis points above the all-time low.”

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.

See other articles related to: mortgage rates, interest rates, freddie mac

This article originally published at http://dc.urbanturf.com/articles/blog/3.41_mortgage_rates_head_toward_record_lows/11441

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