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3.44%: Mortgage Rates Drop Slightly

by UrbanTurf Staff

3.44%: Mortgage Rates Drop Slightly: Figure 1

Long-term mortgage rates dropped back down this week after Labor Day.

On Thursday morning, Freddie Mac reported 3.44 percent with an average 0.6 point as the average on a 30-year fixed-rate mortgage, down two basis points from last week.

From Freddie Mac chief economist Sean Becketti on today’s rates:

As mortgage rates continue to range between 3.41 and 3.48 percent, many are taking advantage of the historically low rates by refinancing. Since the Brexit vote, the refinance share of mortgage activity has remained above 60 percent.

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/3.44_mortgage_rates_drop_slightly/11650

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