On Thursday morning, Freddie Mac reported 4.41 percent with an average 0.7 point as the average on a 30-year fixed-rate mortgage, up just 0.01 from last week’s rates.
The rates stayed mostly flat due to a week of scant economic reports. A year ago, rates were 3.54 percent on average.
Frank Nothaft, Freddie Mac’s chief economist, noted the light economic data over the past week and added the following:
“Of the few releases, real GDP was revised up slightly to 2.6 percent growth in the fourth quarter of 2013. The private sector added an estimated 191,000 jobs in March, which followed an upward revision of 39,000 jobs in February according to the ADP Research Institute. Also, the Institute for Supply Management reported the manufacturing industry rebounded from a soft February but was still below market consensus.”
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 https://dc.urbanturf.com/articles/blog/4.41_mortgage_rates_basically_flat/8315.
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