4.81%: Your Weekly Mortgage Rate Update
Long-term interest rates remained virtually unchanged this week, with Freddie Mac reporting 4.81 percent as the average on a 30-year fixed rate mortgage this morning, up from 4.8 percent last week.
“Mortgage rates held relatively stable this week on news that the economy improved and inflation remained in check at the end of 2010,” Freddie Mac vice president and chief economist Frank Nothaft said.
The Washington Post had an interesting story earlier this week about borrowers who are refinancing and bringing more money to the table in order to take advantage of the low rates. Dina ElBoghdady reported that “46 percent of borrowers who refinanced their primary mortgages [in the fourth quarter of 2010] brought cash to settlement to lower the balance on their loans” making for the highest percentage of “cash-in” refinances since 1985.
Here is a quick mortgage rate timeline over the last 18 months:
- January 14, 2010 — 4.71%
- January 7, 2010 — 4.77%
- December 17, 2010 — 5.07%
- December 4, 2010 — 4.46%
- November 11, 2010 — 4.17%
- October 7, 2010 – 4.27%
- July 29, 2010 – 4.54%
- December 9, 2009 – 4.71%
- October 14, 2009 – 4.87%
- August 3, 2009 – 5.25%
- June 12, 2009 – 5.65%
See other articles related to: freddie mac, mortgage rates, the washington post
This article originally published at https://dc.urbanturf.com/articles/blog/4.81_your_weekly_mortgage_rate_update/2947.
Most Popular... This Week • Last 30 Days • Ever
If there was ever a place where the old adage “one man’s trash is another man’s... read »
In this article, UrbanTurf will explain what special assessments are, how they work, ... read »
The median price of a home in the region in April rose to $640,000, well above the pr... read »
This week's Best New Listings includes a four-bedroom home in Hyattsville, a chic Dup... read »
Plans are moving forward at the site of a long-planned project in Ivy City, however w... read »
- Tile, Furniture, Appliances & (Much) More -- The Local Warehouse Chock Full of Salvaged Home Goods
- What Are Special Assessments in Condo Buildings and What Do They Cover?
- DC-Area Home Prices Shatter Record in April
- Best New Listings: 140 Years in Hyattsville, 100 Years in Bethesda
- Douglas Development Pitches Large Warehouse For New City Site Along New York Avenue
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