4.75%: Mortgage Rates Drop
Last Thursday, Freddie Mac reported 4.75 percent with an average 0.5 point on long-term mortgage rates, a 6 basis point drop from the previous week. Last year at this time, rates were averaging 3.94 percent.
story continues below
loading...story continues above
“Mortgage rates declined amid a steep sell-off in U.S. stocks," Freddie Mac chief economist Sam Khater said in a statement. "This week’s rate reaction to the volatile stock market is a welcome relief to prospective homebuyers who have recently experienced rising rates and rising home prices.”
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 https://dc.urbanturf.com/articles/blog/475-mortgage-rates-drop/14784.
Most Popular... This Week • Last 30 Days • Ever
Roadside Development filed a sketch plan with Montgomery County this month for the 30... read »
The Matthew is located on 9th Street, overlooking the iconic Naylor Court and neighbo... read »
Construction continues humming along on several developments on the uppermost stretch... read »
This week's Best New Listings include an award-winning craftsman, a condo in a former... read »
Today, we take a closer look at home insurance.... read »
- A First Look At The 525-Unit Development That Will Incorporate Silver Spring's Tastee Diner
- Nine Stylish Condominiums Debut in Shaw's Iconic Naylor Court
- The 1,600 Units In The Walter Reed/Takoma Development Pipeline
- Best New Listings: A Home On The Hill With a Pool?
- A Look at What is Covered By Home Insurance
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