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4.42: Rates Dip Slightly

by UrbanTurf Staff

4.42: Rates Dip Slightly: Figure 1

On Thursday morning, Freddie Mac reported 4.42 percent with an average 0.7 point as the average on a 30-year fixed-rate mortgage. Last week, rates were slightly higher at 4.46 percent.

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

“Mortgage rates were little changed amid a light week of economic data releases. Of the few releases, total nonfarm payroll employment rose by 203,000 in November and the unemployment rate declined to 7.0 percent. Also, single family mortgage debt outstanding increased for the first time since 2008.

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:

4.42: Rates Dip Slightly: Figure 2

This article originally published at http://dc.urbanturf.com/articles/blog/4.42_rates_dip_slightly/7923

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