Mortgage Rates Drop For Second Week in a Row
For the second week in a row, long-term mortgage rates went in the right direction for homebuyers.
On Thursday, Freddie Mac reported 6.74% as the average on a 30-year mortgage, down 14 basis points from last week. A year ago, long-term rates sat at 6.6%.
story continues below
loading...story continues above
“The 30-year fixed-rate mortgage decreased again this week, with declines totaling almost a quarter of a percent in two weeks’ time,” said Sam Khater, Freddie Mac’s Chief Economist. “Despite the recent dip, mortgage rates remain high as the market contends with the pressure of sticky inflation."
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: mortgage rate, mortgage rates
This article originally published at https://dc.urbanturf.com/articles/blog/mortgage_rates_drop_for_second_week_in_a_row/22084.
Most Popular... This Week • Last 30 Days • Ever
The big news in the development pipeline east of DC's H Street Corridor is the resur... read »
A new hotel has been pitched for a development site in Mount Vernon Triangle that has... read »
Rossdhu Gate is the remaining piece of a 30-room castle built by socialite Daisy Calh... read »
As profits drop around the country, sellers around DC are still realizing hefty retur... read »
Foxtrot closes up shop; the bus-only lanes coming to Georgia Avenue; and the new tier... 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