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6.6%: Mortgage Rates Pull Back
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.
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“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.
See other articles related to: interest rates, mortgage rate
This article originally published at https://dc.urbanturf.com/articles/blog/66_mortgage_rates_pull_back/20777.
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