Long-term mortgage rates dropped for the fourth week in a row after inching above 4 percent at the end of 2015.
Freddie Mac reported 3.79 percent with an average 0.6 point for long-term rates this week. Rates have now been steadily falling since the beginning of the year.
“The yield on the 10-year Treasury stabilized around 2 percent this week, and the 30-year mortgage rate dipped 2 basis points to 3.79 percent,” Freddie Mac’s Sean Becketti said. “The recent market turmoil has given the Fed pause; as was universally expected, the Fed stood pat this week but kept its options open for a rate increase in March.”
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.
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This article originally published at http://dc.urbanturf.com/articles/blog/a_four-week_drop_long-term_rates_drop_to_3.79/10811
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