3.59: Mortgage Rates Drop as Labor Day Approaches

This morning, Freddie Mac reported 3.59 with an average 0.6 point as the average on a 30-year fixed-rate mortgage. The drop comes after long-term rates increased for four straight weeks. In July, rates hit an all-time low of 3.49 percent.
From Freddie Mac vice president and chief economist Frank Nothaft:
Treasury bond yields fell, allowing mortgage rates to follow, after the release of the July 31st and August 1st minutes of the Federal Reserve’s monetary policy committee. Committee members agreed that economic activity had decelerated more in recent months than they had anticipated at their last meeting in June. Some members even saw room for additional stimulus fairly soon if needed.
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/3.59_mortgage_rates_drop_as_labor_day_approaches/5965
Most Popular... This Week • Last 30 Days • Ever

This week’s Best New Listings includes an expanded Brentwood bungalow, a Brookland ... read »

Applications will open today for up to 18 months of rental and utility assistance.... read »

The spring housing market looks to be one of the best on record for the area.... read »

Since our last look at Georgetown's residential pipeline, the neighborhood has been f... read »

Despite a six-month delay, this 10-acre development may break ground this year.... read »
- Best New Listings: A Georgetown Mansion, Fit for a Socialite
- DC Announces New $352 Million Rent Assistance Program
- A Market on Steroids: The DC-Area Housing Market Went Into Overdrive in March
- Four Units Here, 70 Units There: The Georgetown Residential Pipeline
- 527 Residences, a Grocery Store and a Hotel: The Plans for a West Falls Church Site
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