What's Hot: The 4 Projects in the Works Near DC's Starburst Intersection | A 153-Room Aloft Hotel Pitched For Mt. Vernon Triangle
3.78: Mortgage Rates Hit New Record Low
Mortgage rates hit another record low this week.
This morning, Freddie Mac reported 3.78 percent with an average 0.8 point as the average on a 30-year fixed mortgage, down slightly from last week’s 3.79 percent. (The average points rose slightly, so rates may actually be a bit higher.) Rates have been dropping all month: this is the fourth consecutive week that the average on 30-year mortgages has hit or hovered around a new record low.
From Freddie Mac vice president and chief economist Frank Nothaft:
Mortgage rates were virtually unchanged this week with fixed-rate loans remaining at record lows and helping to drive homebuyer affordability. The National Association of Realtor’s Housing Affordability Index reached an all-time record high in the first quarter of this year since records began in 1970. In April, existing home sales rose to the highest rate since January with an annualized rate of 4.62 million homes with purchases increasing in all four Census Regions.
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. Still, rates are at historical lows.
Here’s a look at the path of rates since last January:
See other articles related to: freddie mac, mortgage rates
This article originally published at https://dc.urbanturf.com/articles/blog/3.78_mortgage_rates_hoid_near_record_lows/5578.
Most Popular... This Week • Last 30 Days • Ever
In this article, UrbanTurf looks at the estimated annual maintenance costs associated... read »
Another concept has been unveiled for one of DC's most contentious development sites,... read »
The residential development in the works along Florida Avenue NE is looking to increa... read »
Renter demand has continued to push Class A apartment rents in the DC region up this ... read »
The big news in the development pipeline east of DC's H Street Corridor is the resur... read »
- What Are the Annual Maintenance Costs When You Own a Home?
- A First Look At The New Plans For Adams Morgan's SunTrust Plaza
- 46 to 48: The Biggest Project In Trinidad Looks To Get Bigger
- How Much Did DC-Area Rents Rise At The Beginning of 2024?
- The 4 Projects In The Works Near DC's Starburst Intersection
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. 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