Mortgage Rates Drop to Start 2019
Long-term mortgage rates started out the year by falling to their lowest level in four months.
Freddie Mac reported 4.51 percent with an average 0.5 point on long-term mortgage rates, a 5 basis point drop from last week. Last year at this time, rates were averaging 3.95 percent.
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"Low mortgage rates combined with decelerating home price growth should get prospective homebuyers excited to buy," Freddie Mac chief economist Sam Khater said in a statement. "However, it will be interesting to see how the recent turmoil in the stock market will affect homebuying activity in the coming months.”
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: freddie mac, interest rates, mortgage rates
This article originally published at https://dc.urbanturf.com/articles/blog/mortgage-rates-drop-to-start-2019/14841.
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