Long-term mortgage rates remain at their lowest level in almost three years.
On Thursday, Freddie Mac reported 3.75 percent with an average 0.5 point as the average for a 30-year mortgage, down six basis points from last week.
“Mortgage rates continued to hover near three-year lows and purchase application demand has responded, rising steadily over the last two months to the highest year-over-year change since the fall of 2017," Freddie Mac's Sam Khater said in a release. "While the improvement has yet to impact home sales, there’s a clear firming of purchase demand that should translate into higher home sales in the second half of this year.”
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-rates-remain-near-three-year-lows/15702.
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