Interest rates edged down ever so slightly this week, halting a two-week trend of heading upwards.
Freddie Mac reported today that a 30-year fixed-rate mortgage averaged 3.97 percent with an average 0.6 point, a drop of just one basis point versus last week.
“Treasury yields stabilized about 5 basis points below last week’s level as the market shrugged off economic data and world events and turned its attention to the minutes of the October FOMC meeting,” said Sean Becketti, chief economist at Freddie Mac. “In response, the 30-year mortgage rate ticked down a basis point to 3.97 percent.”
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/3.79_long_term_rates_barely_budge/10608
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