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4.46%: Mortgage Rates Tick Up

by UrbanTurf Staff

Long-term mortgage rates ticked up slightly this week. 

Freddie Mac reported 4.46 percent with an average 0.5 point as the average for a 30-year mortgage on Thursday, up one basis point from last week. 

"Purchase applications were down this week after soaring early in the year," Freddie Mac chief economist Sam Khater said. "However, softening house price appreciation along with increasing inventory of homes on the market – and historically low mortgage rates –  should give a boost to the spring homebuying season.”

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.

This article originally published at http://dc.urbanturf.com/articles/blog/446-mortgage-rates-tick-up/14957

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