Long-term mortgage rates dropped to their lowest level since September on Thursday.
Freddie Mac reported 6.15% as the average on a 30-year mortgage, down 18 basis points from last week.
“Rates are at their lowest level since September of last year, boosting both homebuyer demand and homebuilder sentiment," said Sam Khater, Freddie Mac’s Chief Economist. "Declining rates are providing a much-needed boost to the housing market, but the supply of homes remains a persistent concern.”
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/615_mortgage_rates_drop_to_4-month_low/20518.
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