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Long-term Mortgage Rates Drop to 4.8%

  • April 21, 2011

by UrbanTurf Staff

Long-term Mortgage Rates Drop to 4.8%: Figure 1

After four weeks of increases, long-term mortgage rates dropped this week as Freddie Mac reported 4.8 percent as the average on a 30-year fixed rate mortgage this morning, down from 4.91 percent last week.

Freddie Mac vice president and chief economist Frank Nothaft on this week’s rates:

“Low inflation is keeping mortgage rates at bay. The housing market continues to struggle. Although housing starts and existing home sales in March were stronger than the market consensus, they were still at low levels.”

Here’s a look at the path of mortgage rates since last January:

Long-term Mortgage Rates Drop to 4.8%: Figure 2

See other articles related to: mortgage rates, interest rates, freddie mac

This article originally published at https://dc.urbanturf.com/articles/blog/long-term_mortgage_rates_drop_to_4.8/3364

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