Mortgage Rates Remain at Lowest Level in a Year
Interest rates remain at their lowest level in a year.
Freddie Mac reported 4.35 percent with an average 0.5 point as the average for a 30-year mortgage on Thursday, unchanged from last week. A year ago, rates came in at 4.43 percent.
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“Mortgage rates remained mostly unchanged this week, while mortgage applications rose 5.3 percent from the previous week," Freddie Mac's Sam Khater said in a release. "The general decline in rates we have seen recently, combined with rebounding pending home sales, hint at a strong spring homebuying season.”
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-lowest-level-in-a-year/15067.
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