Long-Term Mortgage Rates Fall For Second Week in a Row

  • March 23rd 2023

by UrbanTurf Staff

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Mortgage rates chart_03-23-23.png

Long-term mortgage rates dropped for the second week in a row, offering a reprieve to homebuyers. 

Freddie Mac reported 6.42% as the average on a 30-year mortgage, an 18 basis point drop compared to last week. 

“Mortgage rates continued to slide down as financial market concerns came to the fore over the last two weeks,” Sam Khater, Freddie Mac’s Chief Economist, said in a release. “However, on the homebuyer front, the news is more positive with improved purchase demand and stabilizing home prices. If mortgage rates continue to slide over the next few weeks, look for a continued rebound during the first weeks of the spring homebuying season.”

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_fall_for_second_week_in_a_row/20813.

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