What's Hot: Whole Foods at Walter Reed to Open at End of June | Will This Be the DC Area's First $60 Million House?
Mortgage Rates See Largest Weekly Drop in a Decade
Long-term mortgage rates provided some welcome news for homebuyers on Thursday.
Freddie Mac reported 4.06 percent with an average 0.5 point as the average for a 30-year mortgage this week, down 22 basis points from last week. It is the largest weekly drop for rates in more than a decade.
story continues below
loading...story continues above
“The Federal Reserve’s concern about the prospects for slowing economic growth caused investor jitters to drive down mortgage rates by the largest amount in over ten years," Freddie Mac's Sam Khater said in a release. "Despite negative outlooks by some, the economy continues to churn out jobs, which is great for housing demand. We have recently seen home sales start to recover and with this week’s rate drop we expect a continued rise in purchase demand.”
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: freddie mac, interest rates, mortgage rates
This article originally published at https://dc.urbanturf.com/articles/blog/mortgage-rates-see-largest-weekly-drop-in-a-decade/15191.
Most Popular... This Week • Last 30 Days • Ever

A look at the larger residential developments in the works from Cardozo to Mount Vern... read »

The Heights, a ten-stall food hall that is taking over the spaces formerly occupied b... read »

A piece of legislation quietly introduced in the House of Representatives earlier thi... read »

Whole Foods announced yesterday that the 47,000 square foot store will open on June 2... read »

Developer EYA and the Washington Metropolitan Area Transit Authority will go before D... read »
- The 9 Developments and 1,250 Units in the Works For Shaw
- Friendship Heights Food Hall Could Open This Month
- Will This Proposed Bill Increase the Number of Homes For Sale?
- Whole Foods at Walter Reed to Open at End of June
- 435-Unit Development Planned For Takoma Metro Station Looks For Historic Approval
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