4.00: Mortgage Rates Stay Low
Mortgage rates climbed up ever so slightly this week with Freddie Mac reporting 4.00 with an average 0.7 of a point as the average on 30-year fixed mortgages this morning. Last week, long-term rates fell below 4 percent (to 3.99) for the second time since tracking began in 1971.
The slight change this week is being attributed to “positive economic and consumer confidence data.” From Frank Nothaft, Freddie Mac’s chief economist:
Retail sales rose for the fifth straight month in October and beat the market consensus forecast. Meanwhile, consumer confidence rose for the third consecutive month in early November to the highest reading since June, according to the University of Michigan’s sentiment index. Lastly, homebuilder confidence exhibited a back-to-back monthly increase in November to the strongest level since May 2010.
Here’s a look at the path of rates since last January:
This article originally published at https://dc.urbanturf.com/articles/blog/4.00_mortgage_rates_stay_low/4604.
Most Popular... This Week • Last 30 Days • Ever
A Cathedral Heights condominium—located on Cathedral Avenue—with outstanding buil... read »
In this article, UrbanTurf will explain what special assessments are, how they work, ... read »
Plans are moving forward at the site of a long-planned project in Ivy City, however w... read »
Nearly 1,400 residential units are on the boards around Union Market, about the same ... read »
Up 8% year-over-year, it is the first time that prices have exceeded $800,000 for det... read »
- Two Bedrooms with Two Balconies on the Market in Amenity-Packed Cathedral Heights Condominium
- What Are Special Assessments in Condo Buildings and What Do They Cover?
- Douglas Development Pitches Large Warehouse For New City Site Along New York Avenue
- Hotels, A Public Park and The 1,400 Units In The Works For Union Market
- The Price For A House in The DC Area Hit A New High in April
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