What's Hot: Barnes and Noble Will Return to Georgetown in June | The 3,000 Units On The Boards From Trinidad to Gallaudet
Mortgage Rates Head Above 3.5% For First Time in Months
Since June, the average for long-term mortgage rates has been below 3.5 percent. That changed this week.
On Thursday, Freddie Mac reported 3.52 percent with an average 0.5 point as the average on a 30-year mortgage, jumping five basis points from last week, but still remaining notably lower than a year ago when rates averaged 3.79 percent.
“This is the first week in over four months that rates have risen above 3.50 percent,” Freddie Mac chief economist Sean Becketti said in a statement today. “This month, mortgage rates seem to be catching up to Treasury yields and returning to pre-Brexit levels.”
story continues below
loading...story continues above
If you have been reading these weekly mortgage rate dispatches each week and have been wondering what the deal is with points attached to long-term rates, here is a good primer.
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 https://dc.urbanturf.com/articles/blog/mortgage_rates_head_above_3.5_for_first_time_in_months/11808.
Most Popular... This Week • Last 30 Days • Ever
The application could be a sign that plans to redevelop a pair of former church prope... read »
Rossdhu Gate is the remaining piece of a 30-room castle built by socialite Daisy Calh... read »
As profits drop around the country, sellers around DC are still realizing hefty retur... read »
A Home Equity Line of Credit, commonly referred to as HELOC, is a borrowing product t... read »
The Gen Z market; ranking food halls around DC; and is this the new king of Queens?... 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