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Mortgage Rates Fall To Two-Year Low

  • September 26th 2024

by UrbanTurf Staff

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On Thursday, long-term mortgage rates dropped to their lowest level in two years. 

Freddie Mac reported 6.08% as the average on a 30-year mortgage, down one basis point from last week. Long-term rates are now at their lowest level since the fall of 2022. 

“Given the downward trajectory of rates, refinance activity continues to pick up, creating opportunities for many homeowners to trim their monthly mortgage payment," said Sam Khater, Freddie Mac’s Chief Economist. "Meanwhile, many looking to purchase a home are playing the waiting game to see if rates decrease further as additional economic data is released over the next several weeks.”

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_fall_to_two-year_low/22757.

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