4.22%: Mortgage Rates Bounce Off Record Low
Mortgage rates this week averaged 4.22 percent with 0.7 of a point for a 30-year fixed-rate mortgage, bouncing off last week’s all-time low of 4.15 percent. This time last year the FRM rate stood at 4.36 percent.
Freddie Mac vice president and chief economist Frank Nothaft had this to say about this week’s slight bump:
“Fixed mortgage rates followed Treasury bond yields higher this week while data reports suggest an improvement in the housing market. The Federal Housing Finance Agency national House Price Index rose for the third straight month in June bolstered by a 3.3 percent gain in the East North Central Census Division. In addition, the Mortgage Bankers Association reported that the serious delinquency rate (90 days or more plus foreclosures) on mortgages outstanding fell for the sixth consecutive quarter at the end of June to 7.85 percent.”
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/4.22_mortgage_rates_bounce_off_record_low/4058.
Most Popular... This Week • Last 30 Days • Ever
DC's homebuyer assistance programs can be a bit complex. This edition of First-Timer ... read »
When it comes to financing a home purchase, a 30-year mortgage is one of the most com... read »
Pocket listings are growing in popularity in the low-inventory market in the DC regio... read »
Plans for the development at a prominent DC intersection began nearly eight years ago... read »
The eight-bedroom, 35,000 square-foot home in McLean originally hit the market in 202... read »
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