4.00: Mortgage Rates Move Down Slightly
Good news for buyers: Mortgage rates moved down slightly last week after spending several weeks at 2015 highs, Freddie Mac reported Thursday.
Still, rates stayed in the 4 percent range, if barely. Freddie Mac reported 4.00 with an average 0.7 point as the average rate on a 30-year fixed-rate mortgage. That’s down from the 2015 high of 4.04 last week and down from 4.17 percent a year ago.
story continues below
loading...story continues above
In a news release, Len Kiefer, Freddie Mac’s deputy chief economist, said the rates were down slightly in spite of good news in the housing market.
“Mortgage rates were down this week while housing data were generally positive,” Kiefer said. “Although housing starts dropped 11.1 percent to a seasonally adjusted pace of 1.04 million units in May, housing permits surged 11.8 percent to its highest level since August 2007. Reinforcing this positive momentum, the NAHB housing market index rose 5 points in June, suggesting home builders are very optimistic about home sales in the near future.”
UrbanTurf is following the path of the rates in this chart:
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, mortgage rates
This article originally published at https://dc.urbanturf.com/articles/blog/4.00_mortgage_rates_stay_above_4_percent_barely/10020.
Most Popular... This Week • Last 30 Days • Ever
Back in 2022, the DC Zoning Commission gave the green light to a large mixed-use deve... read »
Opening for sales this spring, The Brownstones at Westbard Square will feature 101 ne... read »
Today, UrbanTurf is taking a look at the tax benefits associated with buying a home t... read »
Donohoe presented plans on Thursday evening for a new multi-family residential projec... read »
Even with two large apartment buildings delivering in Northern Virginia's National L... read »
- Raze Application Looks To Pave Way For 700-Unit Development in Brookland
- Coming Soon: New EYA Brownstones at Westbard Square in Bethesda
- A Look At The Tax Benefits of Buying a Home Through a Trust
- Early Plans Unveiled For 130-Unit Development in Friendship Heights
- 3 Down, 7 To Go: A Look At The Thousands of Units Coming to National Landing
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