Mortgage rates haven’t been this low since May 2013.
Freddie Mac reported Thursday that the average fixed rate 30-year mortgage dropped to 3.73 percent with an average 0.6 point. A year ago, rates stood at 4.51 percent.
“Mortgage rates fell to begin the year as 10-year Treasury yields slid beneath 2 percent for the first time in three months,” Freddie Mac’s Frank Nothaft stated in a release.
UrbanTurf is following the path of the rates in this chart:
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 http://dc.urbanturf.com/articles/blog/3.73_mortgage_rates_fall_to_lowest_level_in_almost_20_months/9383
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