Mortgage Rates Drop To Lowest Level Since Early 2023
✉️ Want to forward this article? Click here.
Long-term mortgage rates continued their descent this week, falling to levels not seen since February 2023.
On Thursday, Freddie Mac reported 6.20% as the average on a 30-year mortgage, down 15 basis points from last week. A year ago, long-term rates were at 7.18%
story continues below
loading...story continues above
“Rates continue to soften due to incoming economic data that is more sedate," said Sam Khater, Freddie Mac’s Chief Economist. "But despite the improving mortgage rate environment, prospective buyers remain on the sidelines, as they negotiate a combination of high house prices and persistent supply shortages.”
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: interest rates, mortgage rates
This article originally published at https://dc.urbanturf.com/articles/blog/mortgage_rates_drop_to_lowest_level_since_early_2023/22705.
Most Popular... This Week • Last 30 Days • Ever

As a homeowner, it's important to understand the types of insurance you need to prote... read »

While the number of homes on the market is much higher than last year, that probably ... read »

This week’s Best New Listings includes a cozy one-bedroom in Adams Morgan and a fiv... read »

As home prices hit a record in the region last month, one property type took the lead... read »

Mayor Bowser's approval rating is recovering; Lego comes to NoVa; and 36,500 acres fo... 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