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Mortgage Rates Drop and Could Be Headed Lower

by UrbanTurf Staff

Mortgage Rates Drop and Could Be Headed Lower: Figure 1

Freddie Mac reported 4.02 percent with an average 0.5 point as the average for a 30-year mortgage today, down from 4.05 percent last week. And rates could be heading lower.

“The 30-year mortgage rate fell 3 basis points this week to 4.02 percent,” Freddie Mac’s Sean Becketti said in a statement. “However, this week’s survey closed prior to Wednesday’s flight to quality. The delayed impact of the associated decline in Treasury yields may push mortgage rates lower in next week’s survey.”

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_drop_and_could_be_headed_lower/12588

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