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3.45%: Mortgage Rates Remain Near Record Lows

  • August 11, 2016

by UrbanTurf Staff

3.45%: Mortgage Rates Remain Near Record Lows: Figure 1

Long-term mortgage rates didn’t move much this week, remaining just above the record lows reached a couple years ago.

Freddie Mac reported that 30-year fixed-rate mortgages averaged 3.45 percent with an average 0.5 point, up two basis points from last week.

“A surprisingly strong July jobs report showed 255,000 jobs added and 0.3 percent wage growth from last month, exceeding many experts’ expectations,” Freddie Mac’s Sean Becketti said in a statement. “In response, the 10-Year Treasury yield rose to its highest level since June and the 30-year fixed-rate mortgage increased 2 basis points to 3.45 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/3.45_mortgage_rates_remain_near_record_lows/11550

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