What's Hot: 142-Unit Development At Inn of Rosslyn Site Moves Forward | Mortgage Rates Inch Closer To 7%
4.6%: Mortgage Rates Continue to Rise
✉️ Want to forward this article? Click here.
Long-term mortgage rates rose again this week, as Freddie Mac reported that the average on a 30-year fixed-rate mortgage increased to 4.6 percent with 0.7 of a point, up from 4.51 percent last week. While rates increased ever so slightly last week from the previous week (4.5 to 4.51 percent), this week’s rise was the largest in about nine weeks as rates followed treasury yields higher.
However, despite the increase, rates remain historically low. To put today’s long-term rate in perspective, if you were to buy a $499,000 home today using conventional financing (assuming 20 percent down) versus April 201 (when long-term rates were 5.21 percent), you are looking at a monthly savings of about $150.
Here’s a look at the path of rates since last January:
See other articles related to: freddie mac, interest rates, mortgage rates
This article originally published at https://dc.urbanturf.com/articles/blog/4.6_mortgage_rates_continue_to_rise/3769.
Most Popular... This Week • Last 30 Days • Ever
Estate taxes, also known as inheritance taxes or death duties, are taxes imposed on t... read »
The application may signal movement on the massive mixed-use project.... read »
Penzance has unveiled its striking new plans for Rosslyn.... read »
A new report finds that the current housing market is split into two groups.... read »
If you don't know where to go in order to place your ballot, we got you covered.... 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