Last week, long-term mortgage rates dropped to their lowest level in five months.
Freddie Mac reported 2.9 percent with an average 0.6 point on Thursday, down 8 basis points from the previous week and the lowest level for rates since February.
“We expect economic growth to gradually drive interest rates higher, but homebuyers and refinance borrowers still have an opportunity to take advantage of 30-year rates that are expected to continue to hover around three percent," Freddie Mac economist Sam Khater said in a release.
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-to-lowest-level-since-february/18488.
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