Mortgage rates remained just above their record lows for the second week in a row.
Today, Freddie Mac reported 3.33 percent with an average 0.7 point as the average for a 30-year mortgage, the same rate as last week. But Freddie Mac indicates that rates might be heading lower.
“While mortgage rates remained flat over the last week, there is room for rates to move down,” Freddie Mac's Sam Khater said in a release. “This year the 10-year Treasury market has declined by over a full percentage point, yet mortgage rates have only declined by one-third of a point. As financial markets continue to heal, we expect mortgage rates will drift lower in the second half of 2020.”
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-remain-at-333-but-could-head-lower/16697.
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