Mortgage rates stayed mostly flat this week, up 0.05 percent from last week’s 4.23 percent. A lack of economic reports in the past week probably contributed to the lack of movement in the rates.
On Thursday morning, Freddie Mac reported 4.28 percent with an average 0.7 point as the average on a 30-year fixed-rate mortgage.
Freddie Mac’s chief economist, Frank Nothaft, had this to say about the rates this week:
“Mortgage rates were little changed amid a week of light economic reports. Of the few releases, the economy added 113,000 jobs in January, which was below the market consensus forecast and followed a slight upward revision of 1,000 jobs in December. Meanwhile, the unemployment rate fell to 6.6 percent, which makes thirteen consecutive months without an increase.”
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.
See other articles related to: mortgage rates
This article originally published at http://dc.urbanturf.com/articles/blog/4.28_mortgage_rates_remain_flat/8123
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