What's Hot: DC-Area Home Prices Shatter Record in April
Mortgage Rates Dip to Lowest Level in Three Years
Long-term mortgage rates dropped this week to their lowest level since 2013.
The average rate on a 30-year fixed-rate mortgage was 3.59 percent this week, according to Freddie Mac. That’s down from 3.61 percent last week and 3.85 percent a year ago.
story continues below
loading...story continues above
“Disappointing April employment data once again kept a lid on Treasury yields, which have struggled to stay above 1.8 percent since late March,” Freddie Mac’s Sean Becketti said. “As a result, the 30-year mortgage rate fell 4 basis points to 3.57 percent, a new low for 2016 and the lowest mark in 3 years.” With the latest drop, mortgage rates have now fallen 14 of the last 19 weeks.
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_dip_to_lowest_level_in_three_years/11225.
Most Popular... This Week • Last 30 Days • Ever
When Dan and Tanya Snyder couldn't sell their 30,000 square foot home , the former ow... read »
Cash-out refinancing is a popular financial strategy that allows homeowners to conver... read »
DC continues to get close to meeting Mayor Muriel Bowser's goal of producing 36,000 n... read »
In this article, UrbanTurf will explain what special assessments are, how they work, ... read »
As plans for a street reconfiguration at the intersection of New York and Florida Ave... read »
- Dan Snyder Gave His Potomac Home Away, And Now It's Coming Back On The Market
- How Does Cash-Out Refinancing Work?
- 34,000 And Counting: DC Is 96% of Way Towards Meeting 2025 Housing Production Goals
- What Are Special Assessments in Condo Buildings and What Do They Cover?
- The 1,700 Units In Various Stages Around Dave Thomas Circle
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. 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