This week, long-term mortgage rates dropped to their lowest level since last spring.
Freddie Mac reported 4.41 percent with an average 0.4 point as the average for a 30-year mortgage on Thursday, down five basis points from last week. A year ago, rates came in at 4.32 percent.
“The U.S. economy remains on solid ground, inflation is contained and the threat of higher short-term rates is fading from view, which has allowed mortgage rates to drift down to their lowest level in 10 months," Freddie Mac's Sam Khater said in a release. "This is great news for consumers who will be looking for homes during the upcoming spring homebuying season."
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-to-lowest-level-in-almost-a-year/14982.
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