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5.25%: Long-Term Mortgage Rates Drop Slightly

  • May 19th 2022

by UrbanTurf Staff

Long-term interest rates fell this week after rising consistently in recent months. 

Freddie Mac reported 5.25% with an average 0.9 point today, down 5 basis points compared to last week. 

"Economic uncertainty is causing mortgage rate volatility,” Freddie Mac's Sam Khater said in a statement. “As a result, purchase demand is waning, and homebuilder sentiment has dropped to the lowest level in nearly two years."

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/525-long-term-mortgage-rates-drop-slightly/19667.

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