Mortgage Rates Hit Highest Level in Almost Four Years
Long-term mortgage rates continued their upward climb on Thursday, hitting their highest level in almost four years.
On Thursday, Freddie Mac reported 4.38 percent with an average 0.6 point as the average for a 30-year mortgage, the highest that long-term rates have been since April 2014 and a six basis point jump since last week.
story continues belowloading...
story continues above
"Wednesday's Consumer Price Index report showed higher-than-expected inflation; headline consumer price inflation was 2.1 percent year-over-year in January two tenths of a percentage point higher than the consensus forecast," Freddie Mac deputy economist Len Kiefer said in a release. "Inflation measures were broad-based, cementing expectations that the Federal Reserve will go forward with monetary tightening later this year. Following this news, the 10-year Treasury reached its highest level since January 2014, climbing above 2.90 percent."
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-hit-highest-level-in-almost-four-years/13575.
Most Popular... This Week • Last 30 Days • Ever
The largest development on the boards for the H Street Corridor is planned for a fami... read »
The 650,000 square-foot project, designed by Adjaye Associates and Hickok Cole, will ... read »
Nearly every building has delivered at The Wharf, and now the development bug is rubb... read »
An 80-unit residential development is moving forward along the H Street Corridor, and... read »
For this edition of What X Buys, UrbanTurf explores how far a budget just below $900,... read »
The application to raze the infamous fast food location at New York and Florida Avenu... read »
While homeowners must typically appeal by April 1st, new owners can also appeal.... read »
At an ANC 4A meeting on Tuesday night, representatives from Whole Foods said that the... read »
The application has been filed for the American City Diner along Connecticut Avenue i... read »
As the neighborhood waits for highly-anticipated restaurants to open, and luxury home... 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 »
- 200-Unit Apartment Project Planned For Autozone Site Along the H Street Corridor
- A First Look at the Five-Building Centerpiece of the St. Elizabeth's Redevelopment
- The 700 Units on the Boards Around The Wharf
- Renderings Revealed For 80-Unit Project Along the H Street Corridor
- What (Just Under) $900,000 Buys in the DC Area
- The End is Here: Raze Permit Filed For Wendy's at Dave Thomas Circle
- How to Appeal Your DC Property Tax Assessment
- Whole Foods at Walter Reed To Open This Summer
- Raze Application May Spell The End For One of DC's Last Diner Buildings
- New Hotels, Mall Conversions And The 450 Units On The Boards For Georgetown
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