What's Hot: The 2,600 Units in Progress, and 500 Units on Hold, in Rosslyn | Do Three Months of Rising Home Sales Mean The Market is Turning a Corner?
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

New renderings show the public space that will be part of the huge new residential de... read »

Several large projects are in the works across the Potomac in Rosslyn while others ha... read »

As Los Angeles looks to implement a "mansion tax" on April 1, UrbanTurf decided to ta... read »

In this week's edition of Above Asking, we highlight a home in Mount Pleasant that so... read »

The 2023 Home Buyers and Sellers Generational Trends report out today found that bab... read »
- New Renderings Show Retail Plaza, Park at 435-Unit Takoma Metro Development
- The 2,600 Units in Progress, and 500 Units on Hold, in Rosslyn
- A Closer Look at the Mansion Tax
- 12 Offers, $273,000 Above Asking in Mount Pleasant
- Baby Boomers Pass Millennials As Largest Generation of Homebuyers, Per Report
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