What's Hot: A Proposed Bill Would Give 20-Year Tax Abatement To New Development At DC Metro Stations
Mortgage Rates Hit Highest Level in Seven Years
✉️ Want to forward this article? Click here.
Long-term mortgage rates just hit their highest level in quite some time.
On Thursday, Freddie Mac reported 4.61 percent with an average 0.4 point as the average for a 30-year mortgage, up six basis points from last week and now at their highest level since 2011.
Last week, Freddie Mac chief economist Sam Khater noted that rising rates haven't dampened home buyer demand much just yet, but that might change if the rising trend continues.
story continues below
loading...story continues above
“While this year’s higher mortgage rates have not caused much of a ripple in the strong demand levels for buying a home seen in most markets, inflationary pressures and the prospect of rates approaching 5 percent could begin to hit the psyche of some prospective buyers.”
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
This article originally published at https://dc.urbanturf.com/articles/blog/mortgage-rates-hit-highest-level-in-seven-years/13995.
Most Popular... This Week • Last 30 Days • Ever

Virginia's homebuyer assistance programs can seem complex. This edition of First-Time... read »

In this article, UrbanTurf looks at the estimated annual maintenance costs associated... read »

Today, UrbanTurf heads down to a portion of Southwest DC to see what large residentia... read »

The third phase is a 10-story residential building with approximately 180–233 mixed... read »

The late California senator's Spring Valley home went under contract over the weekend... read »
- First-Timer Primer: Virginia's Home Buyer Assistance Programs
- What Are the Annual Maintenance Costs When You Own a Home?
- The 6 Big Residential Projects (And Conversions) In The Works For Southwest DC
- Map Amendment Looks To Pave Way For Final Phase Of DC's Northwest One Project
- Dianne Feinstein's DC Home Finds A Buyer
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. Start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro