Long-term mortgage rates dropped for the fifth week in a row on Thursday. Freddie Mac reported 6.31% on a 30-year mortgage, down two basis points from last week.
“Mortgage rates continued their downward trajectory this week, as softer inflation data and a modest shift in the Federal Reserve’s monetary policy reverberated through the economy,” a Freddie Mac press release stated. “The good news for the housing market is that recent declines in rates have led to a stabilization in purchase demand. The bad news is that demand remains very weak in the face of affordability hurdles that are still quite high.”
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/631_mortgage_rates_drop_for_fifth_week_in_a_row/20424.
Most Popular... This Week • Last 30 Days • Ever
The development will be located a few blocks south of the Takoma Metro station.... read »
The new development along South Capitol Street includes a new amenity for UrbanTurf: ... read »
DC's Office of Planning recently looked at DC's migration patterns in 2022. Today, Ur... read »
A new plan is on the boards for a group of five townhouses in the middle of DC's Chin... read »
Crescent Communities has filed a site plan application with the county for a 467-unit... read »
UrbanTurf has compiled virtual looks at large new developments around the DC region.... read »
Why condo fees are high in some buildings and low in others can be a difficult questi... read »
Dupont Circle’s Swann House, a former 15-bedroom bed and breakfast, will be listed ... read »
The two-building project will include approximately 825 residential units, 151 lodgin... read »
There are two new proposals to redevelop the center at 14th and U Streets NW that are... 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