For the third straight week, mortgage rates remain at a record low.
This morning, Freddie Mac reported 3.87 percent with an average 0.8 point as the average on a 30-year fixed mortgage. Rates have now been below 4 percent for eleven straight weeks and below 5 percent for 52 straight weeks.
From Freddie Mac vice president and chief economist Frank Nothaft:
Fixed mortgage rates were unchanged this week amid mixed confidence measures. Small business confidence ticked up slightly in January, representing a fourth consecutive month gain, according to the National Federation of Independent Business index. However, the Reuters/University of Michigan index of consumer sentiment fell in February by more than the market consensus forecast breaking a five month trend.
Here’s a look at the path of rates since last January:
This article originally published at http://dc.urbanturf.com/articles/blog/mortgage_rates_below_5_percent_for_a_entire_year/5147
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