Last week, we wrote that mortgage rates had fallen and could be dropping further. This week, they did just that.
Freddie Mac reported 3.95 percent with an average 0.5 point as the average for a 30-year mortgage today, down from 4.02 percent last week. Long-term rates are now at their lowest level of the year.
“As we predicted, the 30-year mortgage rate fell 7 basis points this week in a delayed reaction to last week’s sharp drop in Treasury yields,” Freddie Mac’s Sean Becketti said in a statement. “The survey rate stands at 3.95 percent today, a new low for the year.”
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 http://dc.urbanturf.com/articles/blog/mortgage_rates_dip_to_lowest_level_in_2017/12616
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