Long-term mortgage rates fell to a new record low this week.
On Thursday, rates dropped to 2.78%, two basis points lower than the previous record low. It is the twelfth time this year that rates have dropped to a new record low.
"Mortgage rates hit another record low, the twelfth time this year, due to economic and political ambiguity,” Freddie Mac's Sam Khater said in a release. “Despite the uncertainty that we’ve all experienced this year, the housing market, buoyed by low rates, continues to be a bright spot.”
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/mortgage-rates-drop-below-28-set-new-record/17494.
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