Mortgage rates dropped again this week and are now right above record low levels.
Today, Freddie Mac reported 3.31 percent with an average 0.7 point as the average for a 30-year mortgage. Rates are now just two basis points above the record low of 3.29%.
“Mortgage rates continue to hover near all-time lows for the third straight week. As a result, refinance activity remains high, but home purchase demand is weak due to economic tightening,” Freddie Mac's Sam Khater said in a release.
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-hover-just-above-record-lows/16725.
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