Mortgage Rates Rise For Third Week in a Row
✉️ Want to forward this article? Click here.
After dropping below 3.6 percent earlier this month, long-term mortgage rates have now risen for three consecutive weeks.
On Thursday, Freddie Mac reported 3.78 percent with an average 0.5 point as the average for a 30-year mortgage, up 21 basis points from October 10.
story continues below
story continues above
“This week marks the third consecutive week of rate increases, which hasn’t happened since April of this year," Freddie Mac's Sam Khater said in a release. "That said, purchase activity continues to show strength, indicating obvious homebuyer demand. However, the lack of housing supply remains a major barrier to not just the housing market, but the overall economic recovery.”
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: mortgage rates
This article originally published at https://dc.urbanturf.com/articles/blog/mortgage-rates-rise-for-third-week-in-a-row/16090.
Most Popular... This Week • Last 30 Days • Ever
This article will delve into how online home valuation calculators work and what algo... read »
As the redevelopment of the Friendship Heights mall nears completion, new images have... read »
Two and a half years after breaking ground, the massive project in the works for seve... read »
There are a growing number of areas around DC where homebuyers are paying at least $1... read »
Today, UrbanTurf is taking a look at what we think will be the three metrics that wil... read »
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