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Mortgage Rates Drop Again Towards Record Lows

by UrbanTurf Staff

Mortgage rates dropped again this week heading back down towards record lows. 

Today, Freddie Mac reported 3.33 percent with an average 0.7 point as the average for a 30-year mortgage. Rates have now dropped almost 30 basis points in the last two weeks, and are just 4 basis points above the record low of 3.29%. 

“Mortgage rates have drifted down for two weeks in a row and that drop reflects improvements in market liquidity and sentiment,” Freddie Mac's Sam Khater said in a release. “While the market has stabilized relative to prior weeks, homebuyer demand has declined in response to current economic conditions. The good news is that the pending economic stimulus is on the way and will provide support for both consumers and businesses.”

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: mortgage rates, interest rates

This article originally published at http://dc.urbanturf.com/articles/blog/mortgage-rates-drop-again-towards-record-lows/16670

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