What's Hot: A (Slight) Price Drop For Dianne Feinstein's DC Home | The Plans For a 68-Unit Condo/Townhouse Project in Downtown Bethesda
Low Mortgage Rates Get Homebuyers Off the Fence
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
Georgetown Metropolitan reported on Tuesday that the Instagram account for the nation... read »
The National Park Service has given the green light for DC's 62 year-old stadium to b... read »
A Home Equity Line of Credit, commonly referred to as HELOC, is a borrowing product t... read »
UrbanTurf continues our tour of neighborhood developments around the region as we tak... read »
A regular inclusion as one of DC's most expensive housing markets, Georgetown remains... read »
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