Long-Term Mortgage Rates Start 2016 Under 4 Percent

Mortgage rates spent just a week above 4 percent.
Freddie Mac reported Thursday that a 30-year fixed-rate mortgage averaged 3.97 percent with an average 0.6 point this week. This is a four basis point drop from last week when rates inched above 4 percent for the first time since July.
story continues below
loading...story continues above
According to Sean Becketti, chief economist at Freddie Mac, the rate dip was tied to volatility in international markets.
“Concerns about overseas economic developments have dominated financial markets to start the year. U.S. Treasury bond yields fell amidst a global equity selloff and flight to safety. In response, the 30-year mortgage rate dipped 4 basis points to 3.97 percent.”

Keep an eye out for UrbanTurf’s coming article that looks at where local lenders see interest rates going in 2016.
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
This article originally published at http://dc.urbanturf.com/articles/blog/3.97_2016_rings_in_at_under_4_percent/10728
Most Popular... This Week • Last 30 Days • Ever

When Johnsie Walsh rented a unit in her Stanton Park apartment building, she had no i... read »

The draft environmental impact statement for the transportation project expected to g... read »

An analysis by UrbanTurf found that there were 15 neighborhoods in DC where the media... read »

The project is the first Rosslyn high-rise that will include affordable units.... read »

Tysons Corner also comes in tenth nationwide in number of apartments built since 2016... read »
- Obama, The Tenant: A Chat With The President's DC Landlord
- 300 MPH, 18 Million Riders: How the Maglev Might Impact Traffic and Transit in the DC Area
- DC Has Its Most Million-Dollar Neighborhoods on Record
- Arlington County Approves 740-Apartment Ames Center Site Redevelopment
- 2,562 New Units: Tysons Tops DC Suburbs in Apartments Built
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