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Mortgage Rates Hit Two-Month Low, Drop For Sixth Straight Week

  • February 27th

by UrbanTurf Staff

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Mortgage rates continued their decline this week.

Freddie Mac reported 6.76% as the average on a 30-year mortgage, down nine basis points from last week. Long-term rates have now fallen for six weeks in a row, and are at their lowest level in two months. 

“The drop in mortgage rates, combined with modestly improving inventory, is an encouraging sign for consumers in the market to buy a home,” said Sam Khater, Freddie Mac’s Chief Economist. 

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_%20rates_hit_two_month_low/23241.

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