4.10%: Mortgage Rates Drop to Lowest Level in 2014
✉️ Want to forward this article? Click here.
If you have been waiting for mortgage rates to drop in order to buy a home, now might be the time to do it.
On Thursday morning, Freddie Mac reported 4.10 percent with an average 0.5 point as the average on a 30-year fixed-rate mortgage. Long-term mortgage rates are currently at their lowest level of the year.
Last year at this time, long-term rates averaged 4.58 percent.
Freddie Mac’s Frank Nothaft on factors affecting this week’s rates:
“Mortgage rates were down slightly this week, following the decline in 10-year Treasury yields. Meanwhile, housing starts in July jumped 15.7 percent to 1.093 million units after falling 4.0 percent a month earlier.”
Here’s a look at the path of rates since January 2010:
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.
This article originally published at https://dc.urbanturf.com/articles/blog/4.10_mortgage_rates_drop_to_lowest_level_in_2014/8903.
Most Popular... This Week • Last 30 Days • Ever
Estate taxes, also known as inheritance taxes or death duties, are taxes imposed on t... read »
In this article, UrbanTurf will explore the considerations and steps involved in buyi... read »
The most expensive home to sell in the DC region in years closed on Halloween for an ... read »
The application may signal movement on the massive mixed-use project.... read »
Washingtonian is reporting that the national bookstore chain will open its doors the ... read »
- What Are Estate Taxes and How Do They Work?
- How An Unmarried Couple Buys a Home Together
- The Cliffs in McLean Sells For $25.5 Million, Highest Home Sale In DC Area In Years
- Raze Application Filed For Site Of 900-Unit Development, Food Hall Along Anacostia River
- Barnes and Noble Returns To Georgetown Next Week
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