Low Mortgage Rates Get Homebuyers Off the Fence
✉️ Want to forward this article? Click here.
Last week, long-term mortgage rates fell by a whopping 22 basis points and that move spurred homebuyers to get moving.
On Thursday, Freddie Mac reported 4.08 percent with an average 0.5 point as the average for a 30-year mortgage, a slight uptick from last week's 4.06 percent, but still within the range to get homebuyers off the fence.
story continues below
loading...story continues above
“Purchase mortgage application demand saw the second highest weekly increase over the last year and thanks to a spike in refinancing activity, overall mortgage demand rose to the highest level since the fall of 2016," Freddie Mac's Sam Khater said in a release. "The benefits of the decline in mortgage rates that we’ve seen this year will continue to unfold over the next few months due to the lag from changes in mortgage rates to market sentiment and ultimately home sales.”
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/low-mortgage-rates-get-homebuyers-off-the-fence/15219.
Most Popular... This Week • Last 30 Days • Ever
Today, we take a closer look at home insurance.... read »
Monument Realty and Mosaic Realty Partners redevelopment plans for a surface parking ... read »
A new report shows that apartment rents rose ever so slightly in DC over the last yea... read »
Plans to convert a downtown DC office building into a large apartment project continu... read »
Kite House at The Parks at Walter Reed sold seven residences in September alone. The ... read »
- A Look at What is Covered By Home Insurance
- 235-Unit Development With Public Park Pitched For Downtown Bethesda Looks To Move Forward
- A Snapshot Of Apartment Rents Across The DC Area
- 400-Unit Office-To-Residential Conversion Pitched in DC's West End Heads To BZA
- A No Down Payment Assistance Program at Kite House, DC’s Best Selling Condominium
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