What's Hot: Barnes and Noble Will Return to Georgetown in June | The 3,000 Units On The Boards From Trinidad to Gallaudet
3.91: Rates Match Record Low
Long-term mortgage rates matched their all-time record low this week, with Freddie Mac reporting 3.91 percent with an average 0.8 point as the average on a 30-year fixed mortgage. Rates have been below 4 percent for five consecutive weeks, first falling to the record low of 3.91 two weeks ago. A year ago, rates were at 4.77 percent.
From Freddie Mac vice president and chief economist Frank Nothaft:
Recent data reports indicate the housing market and manufacturing industry are showing signs of improvement. Pending existing home sales in November jumped 7.3 percent, nearly five times greater than the market consensus forecast, to its strongest pace since April 2010.
It bears repeating that the rates reported by Freddie Mac for 30-year mortgages are usually the best rates that the most qualified borrowers can get. An article in The Wall Street Journal goes into more detail about this.
Here’s a look at the path of rates since last January:
See other articles related to: mortgage rates
This article originally published at https://dc.urbanturf.com/articles/blog/3.91_rates_match_record_low/4862.
Most Popular... This Week • Last 30 Days • Ever
Rossdhu Gate is the remaining piece of a 30-room castle built by socialite Daisy Calh... read »
As profits drop around the country, sellers around DC are still realizing hefty retur... read »
A Home Equity Line of Credit, commonly referred to as HELOC, is a borrowing product t... read »
The Gen Z market; ranking food halls around DC; and is this the new king of Queens?... read »
The term "luxury" has been applied broadly in the housing market, but a new report ai... read »
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