Mortgage Rates Rise to Just Below 3%
Long-term mortgage rates rose to their highest level since last August this week.
On Thursday, Freddie Mac reported 2.97 percent as the average on a 30-year fixed rate mortgage, up 16 basis points from last week.
“Optimism continues as the economy slowly regains its footing, thus affecting mortgage rates,” Freddie Mac's Sam Khater said in a release. “Though rates continue to rise, they remain near historic lows. However, when combined with demand-fueled rising home prices and low inventory, these rising rates limit how competitive a potential homebuyer can be and how much house they are able to purchase.”
story continues below
loading...story continues above
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, interest rates
This article originally published at http://dc.urbanturf.com/articles/blog/mortgage-rates-rise-to-just-below-3/17932
Most Popular... This Week • Last 30 Days • Ever

UrbanTurf has compiled virtual looks at large new developments around the DC region.... read »

The Q1 2021 crane count shows DC in the lead.... read »

A zoning hearing is scheduled for later this month.... read »

UrbanTurf looks at one of our favorite metrics regarding competition in the housing m... read »

Applications will open today for up to 18 months of rental and utility assistance.... read »
- A Virtual Tour of More Than 35 DC-Area Developments
- DC Has the Most Cranes in the Sky of Any U.S. City
- A More Vivid Look at 557-Unit Development Proposed Near Dave Thomas Circle
- The 7 DC Neighborhoods Where You Aren't The Only Person Bidding on a Home
- DC Announces New $352 Million Rent Assistance Program
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. Visit guides.urbanturf.com or 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