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Mortgage Rates Drop to 10-Week Low

  • September 29th 2016

by UrbanTurf Staff

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Mortgage Rates Drop to 10-Week Low: Figure 1

Long-term mortgage rates fell to ten-week lows on Thursday.

Freddie Mac reported 3.42 percent with an average 0.6 point as the average on a 30-year fixed-rate mortgage, down six basis points from last week.

From Freddie Mac chief economist Sean Becketti on today’s rates:

“Investors flocked to the safety of government bonds causing the 10-year Treasury yield to continue its descent following the FOMC’s decision to leave rates unchanged.”

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_to_10-week_low/11736.

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