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3.68%: Mortgage Rates Move a Bit Higher

by UrbanTurf Staff

3.68%: Mortgage Rates Move a Bit Higher: Figure 1

Mortgage rates moved up a bit on Thursday, with Freddie Mac reporting 3.68 percent with an average 0.6 point on an average fixed rate 30-year mortgage, up from 3.65 percent last week. A year ago at this time rates were 4.29 percent.

Len Kiefer, Freddie Mac’s deputy chief economist, on the economic news that led to the rise in rates:

“Mortgage rates were up slightly following a week of mixed economic releases. Real GDP grew at a paltry 0.2 percent annualized rate in the first quarter of 2015, well below expectations. However, the National Association of Realtors’ pending home sales index rose 1.1 percent in March for the third consecutive month.”

UrbanTurf is following the path of the rates in this chart:

3.68%: Mortgage Rates Move a Bit Higher: Figure 2

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/3.68_mortgage_rates_move_a_bit_higher/9831

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