4.49%: How Low Will Mortgage Rates Go?
✉️ Want to forward this article? Click here.
This morning, long-term mortgage rates fell again, as Freddie Mac reported 4.49 percent with 0.7 of a point as the average on a 30-year fixed-rate mortgage. It is the eighth week in a row that rates have dropped.
The drop in rates was attributed to weaker than expected job growth. From a statement by Freddie Mac vice president and chief economist Frank Nothaft:
“Long-term Treasury yields moved lower following a weak jobs report and mortgage rates followed suit. The economy added 54,000 jobs in May, the fewest in eight months, and factories cut payrolls for the first time in seven months. The housing market continues to remain fragile as well.”
Here’s a look at the path of mortgage rates since last January:
See other articles related to: freddie mac, interest rates, mortgage rates, unemployment
This article originally published at https://dc.urbanturf.com/articles/blog/4.49_how_low_will_mortgage_rates_go/3628.
Most Popular... This Week • Last 30 Days • Ever
In this edition of First-Timer Primer, we look at the ins and outs of the 203k loan.... read »
The largest residential conversion planned in the neighborhood is continuing to move ... read »
Plans for the large new residential project are looking to get started again after mo... read »
The residential pipeline in Adams Morgan has slowed in recent years, and now there ar... read »
The Wall Street Journal is reporting that Jeff Skoll has purchased two homes on nine ... read »
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro