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Mortgage Rates Inch Back Up After Dropping For Weeks

by UrbanTurf Staff

Mortgage Rates Inch Back Up After Dropping For Weeks: Figure 1

After falling to their lowest level of the year last week, long-term mortgage rates inched back up this week.

Freddie Mac reported 4.03 percent with an average 0.5 point as the average for a 30-year mortgage today, up six basis points from last week.

“Despite recent swings in mortgage rates, the housing market continues to show signs of strength—both existing and new home sales in March exceeded expectations, and the Case-Shiller Home Price Index posted another solid gain,” a press release stated Thursday.

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_inch_back_up_after_dropping_for_weeks/12501

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