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Mortgage Rates Below 4% For Two Months in a Row

by UrbanTurf Staff

Mortgage Rates Below 4% For Two Months in a Row: Figure 1

Long-term mortgage rates ticked up this week, but have now been below 4 percent since the beginning of the year.

Freddie Mac reported that the 30-year fixed-rate mortgage averaged 3.64 percent with an average 0.5 point this week.

“Treasury yields approached their highest level in a month, boosting the 30-year mortgage 2 basis points this week to 3.64 percent,” Freddie Mac’s Sean Becketti said in a statement. “Despite this welcome breather, Fed officials have been highlighting the downside risks to the economic outlook, and the market expects the Fed to refrain from any further short-term rate increases for now.”

Since inching just above the 4 percent mark at the very end of 2015, long-term rates have been below 4 percent, hovering around 3.7 percent for the last month.

UrbanTurf has been following the trajectory of rates since 2010:

Mortgage Rates Below 4% For Two Months in a Row: Figure 2

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.

This article originally published at https://dc.urbanturf.com/articles/blog/mortgage_rates_below_4_for_two_months_in_a_row/10943

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