What's Hot: RFK Stadium Cleared For Demolition | Airbnb Unveils Icons
Long-Term Mortgage Rates Rise to Highest Level in More Than Two Years
This week, long-term mortgage rates rose to their highest level since the pandemic began.
Freddie Mac reported 3.69 percent with an average 0.8 point on Thursday, up 14 basis points compared to last week. It is the highest that rates have been since early 2020, and almost 100 basis points higher than a year ago.
story continues below
loading...story continues above
“The normalization of the economy continues as mortgage rates jumped to the highest level since the emergence of the pandemic,” Freddie Mac's Sam Khater said. “Rate increases are expected to continue due to a strong labor market and high inflation, which likely will have an adverse impact on homebuyer demand.”
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-rise-to-highest-level-in-more-than-two-years/19264.
Most Popular... This Week • Last 30 Days • Ever
A Home Equity Line of Credit, commonly referred to as HELOC, is a borrowing product t... read »
Georgetown Metropolitan reported on Tuesday that the Instagram account for the nation... read »
The term "luxury" has been applied broadly in the housing market, but a new report ai... read »
This week’s Best New Listings includes a cozy home adjacent to the Arboretum, a pr... read »
The National Park Service has given the green light for DC's 62 year-old stadium to b... read »
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro