Long-Term Mortgage Rates Fall to Lowest Level in a Year
Homebuyers will be happy with this news.
Long-term mortgage rates fell to their lowest level in a year on Thursday. Freddie Mac reported 4.37 percent with an average 0.4 point as the average for a 30-year mortgage on Thursday, down four basis points from last week. A year ago, rates came in at 4.38 percent.
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"While housing activity has clearly softened over the last nine months and the lingering effects of higher rates from last year are still being felt, lower mortgage rates and a strong job market should rekindle demand for the spring homebuying season,” Freddie Mac's Sam Khater said in a release.
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/long-term-mortgage-rates-fall-to-lowest-level-in-a-year/15011.
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