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4.23: Rates Stay on the Low Side

  • October 10, 2013

by Shilpi Paul

4.23: Rates Stay on the Low Side: Figure 1

Long-term mortgage rates stay low amidst economic uncertainty.

On Thursday morning, Freddie Mac reported 4.23 percent with an average 0.7 point as the average on a 30-year fixed-rate mortgage, up just slightly from an average of 4.22 percent last week.

After hitting a yearly high of 4.58 percent in August, rates have been staying in the low 4s for the past month.

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

Mortgage rates were little changed amid the federal debt impasse in Washington, D.C. and a light week of economic data releases.

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:

4.23: Rates Stay on the Low Side: Figure 2

See other articles related to: mortgage rates

This article originally published at http://dc.urbanturf.com/articles/blog/4.23_rates_stay_on_the_low_side/7676

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