Long-term mortgage rates continued to fluctuate this week.
Freddie Mac reported 5.3% with an average 0.8 point on Thursday, down 24 basis points compared to last week.
“It’s clear that over the past two years, the combination of the pandemic, record low mortgage rates, and the opportunity to work remotely spurred greater demand," Freddie Mac's Sam Khater said in a statement. "Now, as the market adjusts to a higher rate environment, we are seeing a period of deflated sales activity until the market normalizes.”
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/53-long-term-mortgage-rates-drop-back-down/19925.
Most Popular... This Week • Last 30 Days • Ever
The Washington Nationals great didn't move out of the area, though.... read »
UrbanTurf put together a quick primer on the ins and outs of a home auction.... read »
As the Capitol Riverfront neighborhood nears its development capacity, a new effort p... read »
The plans for the large new apartment project from Perseus TDC are coming into focus.... read »
President Biden will sign the largest climate bill in history into law this week.... read »
UrbanTurf has compiled virtual looks at large new developments around the DC region.... read »
This Week's Find is one of the more interesting homes in DC's Foxhall neighborhood. ... read »
The mall will be reimagined as a 7-story, 325-unit apartment project with 25,000 squa... read »
While DC's rising home prices have been the story for years, there are some areas of ... read »
Approximately 25% of listings on the market in the city have experienced a price redu... read »
With this weekend's DC houseboat tour a day away, UrbanTurf thought it only fitting t... read »
President Obama travels to Denver this morning to sign the stimulus bill that has bee... read »
In this week's installment of Ask An Agent, a reader wonders if there is a rule for h... read »
As The Wharf prepares to begin construction, DC's houseboat community heads to its ne... read »
In this week's installment of Ask An Agent, a reader asks a fairly common question th... read »
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. Visit guides.urbanturf.com or start browsing below!
Intro guides for first-time home buyers
Awesome and unusual real estate from across the DC Metro