Long-term mortgage rates dropped on Thursday after rising half a percent in the last five weeks.
Freddie Mac reported 6.6% as the average on a 30-year mortgage, a 13 basis point drop compared to last week.
“Turbulence in the financial markets is putting significant downward pressure on rates, which should benefit borrowers in the short-term," said Sam Khater, Freddie Mac’s Chief Economist.
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/66_mortgage_rates_pull_back/20777.
Most Popular... This Week • Last 30 Days • Ever
Here are some precautions to take before buying real estate with a buddy.... read »
The largest development on the boards for the H Street Corridor will go before DC's B... read »
The plans for 7749 Old Georgetown Road will go before the Montgomery County Developme... read »
The red wall near the corner of 30th and M Street NW hit the market back in July for ... read »
Today, we highlight the five DC neighborhoods that have been the most affordable to h... read »
With interest rates reaching their highest levels in 22 years, it is critically impor... read »
Just before the holiday, UrbanTurf is taking its semi-annual look at the neighborhood... read »
Plans have been filed with DC's Historic Preservation Office to convert the building ... read »
The change would allow for an 80-acre portion of DC's 272-acre Armed Forces Retiremen... read »
An application filed with DC this week signals the end is nigh for a McDonald's locat... 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. Start browsing below!
Intro guides for first-time home buyers
Awesome and unusual real estate from across the DC Metro