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Long-Term Mortgage Rates Remain Just Below 3%

  • August 20th 2020

by UrbanTurf Staff

Long-term mortgage rates rose again this week, but still remain just below 3%. 

On Thursday, Freddie Mac reported 2.99% with an average 0.8 point on a 30-year mortgage, up 3 basis points from last week.

“Purchase housing demand continues to accelerate, ultimately providing support to an economy that otherwise has stagnated,” Freddie Mac's Sam Khater said in a release. “The surge in sales led to a rapid increase in the demand for remodeling and home furnishings as consumers look to renovate while adjusting to home life during COVID.”

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 rates

This article originally published at https://dc.urbanturf.com/articles/blog/long-term-mortgage-rates-remain-just-below-3/17217.

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