Interest Rates Make Largest Jump Since June
Freddie Mac reported Thursday morning that a 30-year fixed-rate mortgage averaged 3.87 percent with an average 0.6 point this week. This is an 11 basis point increase from last week’s 3.76 percent, the largest one-week increase for rates in a little over four months.
“Treasury yields climbed nearly 20 basis points over the past week, capturing the market movement following last week’s FOMC meeting,” said Sean Becketti, chief economist with Freddie Mac. “In response, the 30-year mortgage rate experienced its largest increase since June, up 11 basis points to 3.87 percent. Recent commentary suggests interest rates may rise in the near future. Janet Yellen referred to a December rate hike as a ‘live possibility’ if incoming information supports it. The October jobs report to be released this Friday will be one crucial factor influencing the FOMC’s decision.”
UrbanTurf is following the trajectory of 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.
See other articles related to: freddie mac, interest rates, mortgage rates
This article originally published at https://dc.urbanturf.com/articles/blog/3.87_rates_make_largest_jump_since_june/10552.
Most Popular... This Week • Last 30 Days • Ever
The big news in the development pipeline east of DC's H Street Corridor is the resur... read »
In this article, UrbanTurf looks at the estimated annual maintenance costs associated... read »
Today, UrbanTurf is examining one of our favorite metrics regarding competition in th... 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 »
- The 4 Projects In The Works Near DC's Starburst Intersection
- What Are the Annual Maintenance Costs When You Own a Home?
- The 6 Places In The DC Area Where You Aren't The Only One Bidding On 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
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