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6.32%: Mortgage Rates Drop For Third Consecutive Week
Long-term mortgage rates have been trending down for almost a month.
Freddie Mac reported 6.32% as the average on a 30-year mortgage, down ten basis points compared to last week. Rates have now fallen for three weeks in a row.
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“Economic uncertainty continues to bring mortgage rates down,” Sam Khater, Freddie Mac’s Chief Economist, said in a release. “Over the last several weeks, declining rates have brought borrowers back to the market but, as the spring homebuying season gets underway, low inventory remains a key challenge for prospective buyers.”
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.
See other articles related to: interest rates, mortgage rates
This article originally published at https://dc.urbanturf.com/articles/blog/632_mortgage_rates_drop_for_third_consecutive_week/20846.
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