What's Hot: Plans Progress For a New Grocery Store at Friendship Heights Mall | Move-In Ready Townhomes at EYA's Northeast DC Neighborhoods
4.51: Mortgage Rates Continue to Move Up

Mortgage rates continued their trend upwards this week.
On Thursday morning, Freddie Mac reported 4.51 percent with an average 0.8 point as the average on a 30-year fixed-rate mortgage. Last week, rates dipped to 4.29 percent after popping well above 4 percent the previous week.
From Freddie Mac vice president and chief economist Frank Nothaft on today’s rates:
June’s strong employment led to more market speculation that the Federal Reserve will reduce future bond purchases causing bond yields to rise and mortgage rates followed. The economy gained 195,000 jobs in June, above the market consensus forecast, while revisions to the prior two months added 70,000 on top of that. Moreover, hourly wages rose by 2.2 percent over the last 12 months and represented the largest annual increase in nearly two years.
Two weeks ago, UrbanTurf conducted a survey of its readers who were on the hunt for a new house to find out if the rising rates would halt the search. The results were revealing. Of the several hundred buyers who answered the poll, 38 percent said that they would be putting their search on hold.
All signs point to rates remaining above 4 percent for the foreseeable future, so it is interesting to see how many buyers are considering putting their search on hold. We suppose that’s what almost two years of sub-4 percent rates will do to a buyer’s psyche.
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: freddie mac, interest rates, mortgage rates
This article originally published at https://dc.urbanturf.com/articles/blog/4.51_mortgage_rates_continue_to_move_up/7304.
Most Popular... This Week • Last 30 Days • Ever

Clarion Partners, the owner of the Chevy Chase Pavilion, has filed modifications to i... read »

The new development keeps humming along in DC's Buzzard Point.... read »

It is early in the year, but there are already a number of areas around DC where home... read »

Where it's cheaper to build than buy; Elon Musk is not making Texas happy; and the wo... read »

If you are tired of getting lost in their stores, IKEA has a new location planned tha... 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. Visit guides.urbanturf.com or 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