Mortgage Rates Keep Rising, Hit Highest Level Since Last March
2018 is becoming the year that long-term interest rates decided to head north.
On Thursday, Freddie Mac reported 4.22 percent with an average 0.5 point as the average for a 30-year mortgage, the highest that long-term rates have been since March 2017 and a seven basis point jump since last week.
story continues below
loading...story continues above
"The Federal Reserve did not hike rates this week, but the market views future hikes as a near certainty," Freddie Mac deputy economist Len Kiefer said in a release. "The expectation of future Fed rate hikes and increased borrowing by the U.S. Treasury is putting upward pressure on interest rates. The 30-year fixed rate mortgage is up over a quarter of a percentage point (27 basis points) from the first week of the year. 30-year fixed mortgage rates have increased for four consecutive weeks and are now slightly above where they were last year at this time."
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: freddie mac, interest rates
This article originally published at https://dc.urbanturf.com/articles/blog/mortgage-rates-keep-rising-hit-highest-level-since-last-mark/13519.
Most Popular... This Week • Last 30 Days • Ever

This week's Best New Listings includes an expansive three-building property in Maryla... read »

UrbanTurf created Pipeline, a searchable database of multifamily projects that are un... read »

As we head towards the end of the year, UrbanTurf is wrapping up its coverage of larg... read »

Prices in Wesley Heights, a DC neighborhood to the south of Spring Valley bordered by... read »

Today, UrbanTurf takes a look at the distinct differences between these two popular f... read »
- Best New Listings: Three Buildings in Maryland, Two Bedrooms in Dupont and Views in Logan
- The Nearly 750 Projects in UrbanTurf's Pipeline
- The 8 Large Developments on the Boards From Anacostia to the Bridge District
- The DC Neighborhood Where Home Prices Have Risen The Most in 2023
- The Difference Between Condos and Co-ops
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