Mortgage Rates Drop For First Time Since Election
After a steady rise, mortgage rates fell for the first time in two months on Thursday.
Freddie Mac reported 4.20 percent with an average 0.5 point as the average for a 30-year mortgage today, down twelve basis points from last week. Despite the drop, the path of rates since the election is taking its toll on the mortgage market.
“This marks the first time since 2014 that mortgage rates opened the year above 4 percent,” Freddie Mac’s Sean Becketti said. “Despite this week’s breather, the 66-basis point increase in the mortgage rate since November 3 is taking its toll — the MBA’s refinance index plunged 22 percent this week.”
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.
See other articles related to: freddie mac, interest rates, mortgage applications, mortgage rates
This article originally published at https://dc.urbanturf.com/articles/blog/mortgage_rates_drop_for_first_time_since_election/12021.
Most Popular... This Week • Last 30 Days • Ever
It has been a good start to the year for high-priced homes in the DC region.... read »
Roadside Development filed a sketch plan with Montgomery County this month for the 30... read »
The Matthew is located on 9th Street, overlooking the iconic Naylor Court and neighbo... read »
Dan Snyder donates house to charity; DC records priciest building sale since 2022; an... read »
This week's Best New Listings include an award-winning craftsman, a condo in a former... read »
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