What's Hot: 702,000: DC Sees Population Rise Again In 2024
Mortgage Rates Fall To Just Above 7%
✉️ Want to forward this article? Click here.
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
The federal government could be shut down by the end of today, and that shutdown coul... read »
Right on the heels of a $29 million home along Foxhall Road going under contract to T... read »
New data shows that DC continues to make up for population losses experienced during ... read »
The 16,250 square-foot home along Foxhall Road NW owned by Fox News anchor Bret Baier... read »
Built almost a century ago, the five-bedroom estate will hit the market in Chevy Chas... read »
- How a Government Shutdown Could Affect Home Loans
- The Trump Effect Continues: $10 Million Georgetown Condo Goes Under Contract
- 702,000: DC Sees Population Rise Again In 2024
- At $25 Million, This Is The Most Expensive Home Ever Sold In DC
- The Most Expensive Home In Chevy Chase Will Hit The Market For Just South Of $10 Million
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