Long-Term Mortgage Rates Hit Highest Level in Two Years
For months, UrbanTurf’s weekly report on mortgage rates focused on the common refrain that rates were at or near historic lows. Now, that has changed.
Since Donald Trump was elected president, rates have been steadily increasing, and this week, long-term rates hit their highest average in two years.
On Thursday, Freddie Mac reported 4.13 percent with an average 0.5 point as the average for a 30-year mortgage. This is the highest that rates have been since October 2014.
“The 30-year mortgage rate rose another 5 basis points to 4.13 percent, starting the month 18 basis points higher than this time last year,” Freddie Mac’s Sean Becketti said. “As rates continue to climb and the year comes to a close, next week’s FOMC meeting will be the talk of the town with the markets 94 percent certain of a quarter-point-rate hike.”
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_hit_highest_level_in_two_years/11959.
Most Popular... This Week • Last 30 Days • Ever
DC continues to get close to meeting Mayor Muriel Bowser's goal of producing 36,000 n... read »
The National Park Service has given the green light for DC's 62 year-old stadium to b... read »
Plans for another residential project in downtown Bethesda are moving forward.... read »
On Wednesday, Airbnb launched the Icons Collection, approximately a dozen "one-of-a-k... read »
The application could be a sign that plans to redevelop a pair of former church prope... read »
- 34,000 And Counting: DC Is 96% of Way Towards Meeting 2025 Housing Production Goals
- RFK Stadium Cleared For Demolition
- Site Plan Filed For 68-Unit Condo and Townhouse Project in Downtown Bethesda
- Airbnb Unveils Icons, One-Of-A-Kind Listings For Free
- Raze Application Could Pave Way For 45-Unit Condo Development At Former Church Site in Shaw
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