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4.22%: Rates Fall Slightly

by Shilpi Paul

4.22%: Rates Fall Slightly: Figure 1

Long-term mortgage rates fell slightly this week.

On Thursday morning, Freddie Mac reported 4.22 percent with an average 0.7 point as the average on a 30-year fixed-rate mortgage. Last week, rates jumped up to 4.35 percent, from an average of 4.16 percent the previous week.

From Freddie Mac vice president and chief economist Frank Nothaft on today’s rates:

Fixed mortgage rates fell this week on reports of weaker manufacturing growth and declines in overall inflation rates.

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.

Here’s a look at the path of rates since January 2010:

4.22%: Rates Fall Slightly: Figure 2

See other articles related to: mortgage rates

This article originally published at https://dc.urbanturf.com/articles/blog/4.22_rates_fall_slightly/7852

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