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6.79%: Mortgage Rates Drop Slightly

  • March 28th 2024

by UrbanTurf Staff

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Long-term mortgage rates dropped this week, offering a bit more affordability to homebuyers. 

On Thursday, Freddie Mac reported 6.79% as the average on a 30-year mortgage, down 8 basis points from last week. 

“Mortgage rates moved slightly lower this week, providing a bit more room in the budgets of some prospective homebuyers,” said Sam Khater, Freddie Mac’s Chief Economist. “We also are seeing encouraging data on existing home sales, which reflects improving inventory. Regardless, rates remain elevated near seven percent as markets watch for signs of cooling inflation, hoping that rates will come down further.”

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: mortgage rates

This article originally published at https://dc.urbanturf.com/articles/blog/679_mortgage_rates_drop_slightly/22131.

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