Mortgage Rates Fall to Record Low of 2.86%
Another week, another record low for mortgage rates.
On Thursday, long-term mortgage rates fell to 2.86%, two basis points lower than the record low set just a month ago. It is the ninth time this year that rates have dropped to a new record low.
story continues belowloading...
story continues above
“Mortgage rates have hit another record low due to a late summer slowdown in the economic recovery,” Freddie Mac's Sam Khater said in a release. “These low rates have ignited robust purchase demand activity, which is up twenty-five percent from a year ago and has been growing at double digit rates for four consecutive months. However, heading into the fall it will be difficult to sustain the growth momentum in purchases because the lack of supply is already exhibiting a constraint on sales activity.”
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: interest rates, mortgage rates, record low mortgage rates
This article originally published at https://dc.urbanturf.com/articles/blog/mortgage-rates-fall-to-record-low-of-286/17270.
Most Popular... This Week • Last 30 Days • Ever
Ten years later, plans to construct nearly 150 townhomes at DC's most hotly debated d... read »
LEGO lovers will likely be first in line for the National Building Museum's latest ex... read »
Last year, Shiloh Baptist Church selected Monarch Urban to redevelop 1515 9th Street ... read »
JBG Smith has plans for a seven-story project along Crystal Drive.... read »
The "trailer park" where homes sell for millions; a renters utopia; and ideas for whe... read »
Virginia's homebuyer assistance programs can seem complex. This edition of First-Time... read »
The residential projects that have sprouted up on the Maryland and DC sides of the Fr... read »
With a groundbreaking ceremony on Wednesday, the redevelopment of the Georgetown Wes... read »
The 23,600 square-foot mansion just hit the market, and would set a record if it fetc... read »
The immaculately kept 100-year-old house features six bedrooms and four-and-a-half ba... 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 »
- Reservoir District: 146 Townhomes Planned at McMillan Site Look For Final Design Approval
- BRICK CITY: DC's New LEGO Exhibit Brings in Architecture From Around the World
- HPO Recommends Approval For 45-Unit Condo Development Pitched For Former Church Site in Shaw
- And Another One: Block-Long, 370-Unit Development Pitched For Crystal City
- Wednesday's Must Reads
- First-Timer Primer: Virginia's Home Buyer Assistance Programs
- Mall Conversions, Trader Joes? The 1,500 Units in the Friendship Heights Pipeline
- The Four Seasons Private Residences in Georgetown Break Ground
- DC's Blaine Mansion Lists For $30 Million, A Potentially Record-Setting Price in the City
- Now Selling: A 16th Street Heights Victorian on an Island of Its Own
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