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Mortgage Rates Drop Slightly

  • 11:40 AM EDT

by UrbanTurf Staff

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Mortgage rate chart_05-14-26.png

Long-term mortgage rated edged down this week. 

Freddie Mac reported that the 30-year rate averaged 6.36%, down 1 basis point from 6.37% last week. 

"While purchase demand is softening, it remains above this time last year," Freddie Mac chief economist Sam Khater said. "Recent data also shows existing-home sales modestly edging up.” 

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_slightly/24630.

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