3.98: Mortgage Rates Jump Back Up; New Home Sales Fall
✉️ Want to forward this article? Click here.
After three straight weeks of record setting lows, mortgage rates jumped back up today.
This morning, Freddie Mac reported 3.98 percent with an average 0.7 point as the average on a 30-year fixed mortgage. Rates hit a record low of 3.88 percent last week and have been below 4 percent now for eight consecutive weeks.
From Freddie Mac vice president and chief economist Frank Nothaft:
Fixed mortgage rates ticked up this week as the housing market ended 2011 on a high note. New construction of one-family homes rose 4.4 percent in December to an annualized rate of 470,000, the most since April 2010. Existing home sales increased 5.0 percent at the end of the year to 4.61 million houses, the largest amount since May 2010.
At the same time that the rates were announced, not-so-good news came from the Commerce Department, which reported that new home sales fell unexpectedly in December by 2.2 percent. Sales were at an annual rate of 307,000, below the 325,000 number that economists had expected.
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/3.98_mortgage_rates_jump_back_up/5000.
Most Popular... This Week • Last 30 Days • Ever
As the year draws to a close, homeowners have the opportunity to maximize their tax b... read »
Some interesting residential plans are on the boards for the church at 16th Street an... read »
The Wall Street Journal is reporting that Jeff Skoll has purchased two homes on nine ... read »
For sellers in Woodley Park, Chevy Chase and Spring Valley, it was a good time to sel... read »
The high-end properties are set between the Potomac River/C&O Towpath and multiple pa... read »
- What Homeowners Should Do Before The End of the Year
- A Nine-Story Condo Building Floated For 16th Street Church Property
- EBay's First President Buys McLean Homes For $17 Million
- The 3 Zip Codes Where DC Home Sellers Average More Than $500,000 In Profits
- Two Stylish Single-Family Homes Debut in Walkable MacArthur Boulevard Location
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