Rates on a 30-year fixed-rate mortgage have been dropping since the beginning of the year, and that decline continued this week.
On Thursday, rates fell to 3.62 percent. Rates have now dropped from 4.01 percent since the beginning of this year.
“Yields on the 10-year Treasury continued their downward trend this week after a small rally the previous two weeks,” Freddie Mac’s Sean Becketti said in a release. “The 30-year mortgage responded, falling 3 basis points to 3.62 percent. Since the beginning of 2016, 30-year rates have fallen almost 40 basis points helping housing markets sustain their momentum into this year.”
UrbanTurf has been following the trajectory of rates since 2010:
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_have_dropped_40_points_since_the_start_of_2016/10917
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