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Mortgage Rates Drop For Third Week in a Row

by UrbanTurf Staff

Mortgage Rates Drop For Third Week in a Row: Figure 1

Long-term mortgage rates dropped for the third week in a row on Thursday and are now near their lowest level for the year.

Freddie Mac reported 4.10 percent with an average 0.5 point as the average for a 30-year mortgage today, down four basis points from last week. Three weeks ago, rates were averaging 4.3 percent.

“After three straight weeks of declines, the 30-year mortgage rate is now barely above the 2017 low,” Freddie Mac’s Sean Becketti said. “Next week’s survey rate may be determined by Friday’s employment report and whether or not it can sustain the strength from earlier this year.”

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 http://dc.urbanturf.com/articles/blog/mortgage_rates_drop_for_third_week_in_a_row/12420

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