Mortgage rates changed little this week.
This morning, Freddie Mac reported 3.41 percent with an average 0.7 point as the average on a 30-year fixed-rate mortgage. Rates have now been below 3.5 percent for the past five weeks, reaching a record low of 3.36 in the first week of October.
From Freddie Mac vice president and chief economist Frank Nothaft:
Mortgage rates remained relatively unchanged this week and should continue to support the housing market and mortgage refinance. Existing home sales in September eased slightly to 4.75 million but was the second strongest annualized pace since May 2010. Moreover, new home sales rose to the most since April 2010.
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/3.41_mortgage_rates_hold_steady/6209.
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