3.95: Mortgage Rates Jump Back Up

After three straight weeks of record setting lows, mortgage rates jumped back up today.
This morning, Freddie Mac reported 3.95 percent with an average 0.8 point as the average on a 30-year fixed mortgage. Rates had been hovering around record lows of 3.87 percent for the past three weeks and despite increasing this week, they have now been below 4 percent for twelve consecutive weeks.
From Freddie Mac vice president and chief economist Frank Nothaft:
New data releases this week suggest the housing market is continuing to gradually improve. The Census Bureau reported new residential construction starts in January outpaced the market consensus forecast, led by condominiums and apartment buildings, and December’s figures had upward revisions. Finally, existing home sales were at the strongest pace in January since May 2010, according to the National Association of Realtors.
While rates are remain low, a recent Wall Street Journal article makes a case for why they should be even lower.
Here’s a look at the path of rates since last January:

See other articles related to: freddie mac, interest rates, mortgage rates
This article originally published at https://dc.urbanturf.com/articles/blog/3.95_mortgage_rates_jump_back_up/5185.
Most Popular... This Week • Last 30 Days • Ever

509 Lloyds Lane features 6,000 square feet of naturally lit space, six fireplaces, a ... read »

Clarion Partners, the owner of the Chevy Chase Pavilion, has filed modifications to i... read »

Where it's cheaper to build than buy; Elon Musk is not making Texas happy; and the wo... read »

New renderings show the public space that will be part of the huge new residential de... read »

Several large projects are in the works across the Potomac in Rosslyn while others ha... read »
- In a Highly Desirable Alexandria Location, This Newly Listed Six Bedroom Home is a Timeless Classic
- Plans Progress For a New Grocery Store at Friendship Heights Mall
- Friday's Must Reads
- New Renderings Show Retail Plaza, Park at 435-Unit Takoma Metro Development
- The 2,600 Units in Progress, and 500 Units on Hold, in Rosslyn
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. Visit guides.urbanturf.com or 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