After rising just above 4 percent in late December, long-term rates have now fallen two weeks in a row.
Freddie Mac reported Thursday that a 30-year fixed-rate mortgage averaged 3.92 percent with an average 0.6 point this week.
“Long-term Treasury yields continue to drop, dragging mortgage rates down with them,” Freddie Mac’s Sean Becketti said in a statement. “Turbulence in overseas financial markets is generating a flight-to-quality which benefits U.S. Treasury securities.”
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_fall_for_second_week_in_a_row/10760
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