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Mortgage Rates Remain Under 3% For Third Week in a Row

by UrbanTurf Staff

After going above 3% at the beginning of the year, long-term mortgage rates have now been below that level for three weeks.

Freddie Mac reported 2.96% with an average 0.6 point on a 30-year mortgage on Thursday, down two basis points from last week. 

"The combination of low and stable rates, coupled with an improving economy, is good for homebuyers," Sam Khater, Freddie Mac’s Chief Economist, said in a statement. "It’s also good for homeowners who may have missed prior opportunities to refinance and increase their monthly cash flow.”

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 http://dc.urbanturf.com/articles/blog/mortgage-rates-remain-under-3-for-third-week-in-a-row/18230

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