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5.1%: Mortgage Rates Fall For Second Week in a Row

  • May 26th 2022

by UrbanTurf Staff

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Long-term interest rates fell again this week. 

Freddie Mac reported 5.1% with an average 0.9 point today, down 15 basis points compared to last week. These rates have now fallen two weeks in a row. 

“Mortgage rates decreased for the second week in a row due to multiple headwinds that the economy is facing,” Freddie Mac's Sam Khater said in a statement. “Despite the recent moderation in rates, the housing market has clearly slowed, and the deceleration is spreading to other segments of the economy, such as consumer spending on durable goods.”

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/51-mortgage-rates-fall-for-second-week-in-a-row/19696.

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