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3.26%: Mortgage Rates Rise Slightly From Record Lows

  • May 7th 2020

by UrbanTurf Staff

Long-term mortgage rates rose slightly this week after hitting a record low last week. 

On Thursday, Freddie Mac reported 3.26 percent with an average 0.7 point as the average for a 30-year mortgage, up three basis points from the record lows of last week. 

“Mortgage rates stayed at or near record lows for the fifth straight week and homeowners are taking advantage with refinance activity remaining high,” Freddie Mac's Sam Khater said in a release. “Although purchase demand declined thirty-five percent year-over-year in mid-April, demand has improved modestly over the last three weeks.”

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: interest rates, mortgage rates

This article originally published at https://dc.urbanturf.com/articles/blog/326-mortgage-rates-rise-slightly-from-record-lows/16810.

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