What's Hot: 3.2% to 7.19%: The Path of Interest Rates in the Last 2 Years | HPO Recommends Approval For Office-to-Residential Conversion in Dupont
Mortgage Rates Spike Following Refinancing Surge
Mortgage rates popped this week following a rush to refinance.
Today, Freddie Mac reported 3.65 percent with an average 0.7 point as the average for a 30-year mortgage. This rate is 36 basis points higher than the record low hit just two weeks ago. The pop is all about supply and demand.
story continues below
loading...story continues above
“Mortgage rates rose again this week as lenders increased prices to help manage skyrocketing refinance demand. This is expected to be a short-term phenomenon as lenders work through their backlog,” Freddie Mac's Sam Khater said in a release. “On the purchase front, daily loan purchase applications were rising as of mid-February but started to decline last Friday.”
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: interest rates, mortgage rates
This article originally published at https://dc.urbanturf.com/articles/blog/mortgage-rates-spike-following-refinancing-surge/16614.
Most Popular... This Week • Last 30 Days • Ever

The change would allow for an 80-acre portion of DC's 272-acre Armed Forces Retiremen... read »

The listing will hit the market on Wednesday, according to the Washington Business Jo... read »

Here are some precautions to take before buying real estate with a buddy.... read »

The concept for the residential conversion of a prominently sited building in Dupont ... read »

About a month ago, UrbanTurf examined how condo and co-op prices were driving home pr... read »
- 3,000 Units, 20 Acres of Open Space: Zoning Change Looks to Pave Way For DC's Biggest Development
- Inside Bradley Beal's $10 Million Bethesda Home
- Buying with Friends: What You Should Know
- HPO Recommends Approval For 157-Unit Office-to-Residential Conversion Proposed in Dupont Circle
- More Down Than Up: A Look at Detached Home Prices Around DC
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