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Mortgage Rates Drop For Second Week in a Row

  • March 15th 2024

by UrbanTurf Staff

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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%. 

“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.

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