Long-term mortgage rates dropped below 2.7 percent this week, a new record low.
On Thursday, Freddie Mac announced 2.67 percent as the average on a 30-year mortgage, four basis points lower than the record low set just weeks ago. It is the 15th time this year that rates have set a new record low.
“The housing market continues to surge higher and support an otherwise stagnant economy that has lost momentum in the last couple of months,” Freddie Mac's Sam Khater said in a release. “Mortgage rates are at record lows and pushing many prospective homebuyers off the sidelines and into the market. Homebuyer sentiment is sanguine and purchase demand shows no real signs of waning at all heading into next year.”
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-fall-below-27-setting-another-record-low-in-2020/17671.
Most Popular... This Week • Last 30 Days • Ever
Eights month after a new proposal to redevelop part of the Takoma Metro station was p... read »
The preferred mortgage product among most home buyers is the fixed-rate mortgage. How... read »
The development for four parcels at The Yards from Brookfield Properties and the Menk... read »
One of the more prominent features of the project will be a public plaza that will ru... read »
Foxhall is a DC neighborhood bordered by Reservoir Road, Foxhall Road, Glover Park, a... read »
To help home buyers and sellers both novice and seasoned, UrbanTurf is running a seri... read »
As home buyers get the itch to look for a home and start to venture out to open house... read »
The development will replace the 44,700 square-foot retail structure that was previou... read »
Plans for the New York-based eatery appear to be moving forward.... read »
The concept includes 14 lanes for bowling, a 1,200 person concert venue, a craft bar ... read »
With this weekend's DC houseboat tour a day away, UrbanTurf thought it only fitting t... read »
President Obama travels to Denver this morning to sign the stimulus bill that has bee... read »
In this week's installment of Ask An Agent, a reader wonders if there is a rule for h... read »
As The Wharf prepares to begin construction, DC's houseboat community heads to its ne... read »
In this week's installment of Ask An Agent, a reader asks a fairly common question th... 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. Visit guides.urbanturf.com or start browsing below!
Intro guides for first-time home buyers
Awesome and unusual real estate from across the DC Metro