This week, mortgage rates dropped to their lowest level in nine months.
Freddie Mac reported 3.86 percent with an average 0.5 point as the average for a 30-year mortgage on Thursday.
“The 10-year Treasury yield fell 6 basis points this week amid concerns over lagging inflation,” Freddie Mac’s Sean Becketti said in a release. “The 30-year mortgage rate also declined for the fourth consecutive week, dropping 3 basis points to a new year-to-date low of 3.86 percent.”
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_lowest_level_since_november_2016/12957.
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