3.51: Mortgage Rates Continue Heading North

Mortgage rates continued their trend upwards, making a jump of almost 10 basis points this week.
On Thursday morning, Freddie Mac reported 3.51 percent with an average 0.7 point as the average on a 30-year fixed-rate mortgage. Last week, rates averaged 3.42 percent; the week before, they were at 3.35 percent.
From Freddie Mac vice president and chief economist Frank Nothaft:
Households are shoring up their balance sheets. Total household debt fell by about $110 billion in the first quarter. In addition, approximately 3.0 million homeowners were seriously delinquent (90 days or more delinquent or in foreclosure) on their first mortgages, down from a peak of about 5.1 million in the fourth quarter of 2009.
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.
Here’s a look at the path of rates since January 2010:

See other articles related to: mortgage rates, freddie mac
This article originally published at http://dc.urbanturf.com/articles/blog/3.51_rates_continue_heading_north/7076
Most Popular... This Week • Last 30 Days • Ever

The massive new development would sit on a triangular parking lot at First Street and... read »

UrbanTurf has compiled virtual tours from large new developments around the DC region... read »

Between on-campus and off-campus developments, Howard University deserves a rundown o... read »

The 5,500 square-foot condominium is a penthouse at the Ritz-Carlton in Georgetown.... read »

Airbnb announced Wednesday that it will cancel all reservations in the DC region duri... read »
- Douglas Development Pitches 557-Unit Development Across From Dave Thomas Circle
- A Virtual Tour of More Than 30 DC-Area Developments
- On-Campus and Off-Campus: The Howard University Rundown
- $18 Million: DC's Priciest Condo Ever Hits the Market in Georgetown
- Airbnb Cancelling and Blocking All Reservations in the DC Area During Inauguration
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Visit guides.urbanturf.com or start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro