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Mortgage Rates Inch Up
Long-term mortgage rates inched up this week, but still remain just above 4 percent.
On Thursday, Freddie Mac reported 4.12 percent with an average 0.5 point as the average for a 30-year mortgage, a slight uptick from last week's 4.08 percent.
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“Rates moved up slightly this week while mortgage applications decreased following last week’s jump in rates – indicating borrower sensitivity to changing mortgage rates," Freddie Mac's Sam Khater said in a release. "Despite the recent rise, we expect mortgage rates to remain low, in line with the low 10-year treasury yields, boosting homebuyer demand in the next few months.”
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-inch-up/15253.
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