What's Hot: RFK Stadium Cleared For Demolition | Airbnb Unveils Icons
Mortgage Rates Fall To Just Above 7%
Long-term mortgage rates continue to head south.
On Thursday, Freddie Mac reported 7.03% as the average on a 30-year mortgage, down 19 basis points from last week. Rates are now at their lowest point since August.
story continues below
loading...story continues above
“The 30-year fixed-rate mortgage averaged near 7 percent this week, down from nearly 7.80 percent just six weeks ago,” said Sam Khater, Freddie Mac’s Chief Economist. “When rates began to rapidly drop, purchase applications rebounded initially, but this improvement in demand diminished in the last week. Although these lower rates remain a welcome relief, it is clear they will have to further drop to more consistently reinvigorate demand.”
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 rate, mortgage rates
This article originally published at https://dc.urbanturf.com/articles/blog/mortgage_rates_fall_to_just_above_7/21762.
Most Popular... This Week • Last 30 Days • Ever
This week’s Best New Listings includes a contemporary home on Chain Bridge Road and... read »
Georgetown Metropolitan reported on Tuesday that the Instagram account for the nation... read »
A Home Equity Line of Credit, commonly referred to as HELOC, is a borrowing product t... read »
The National Park Service has given the green light for DC's 62 year-old stadium to b... read »
UrbanTurf continues our tour of neighborhood developments around the region as we tak... 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