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Mortgage Rates Jump Following Fed Rate Hike
On Wednesday, the Federal Reserve raised a key U.S. interest rate for the first time in a year. And on Thursday, long-term rates for homebuyers continued to rise.
Freddie Mac reported 4.16 percent with an average 0.5 point as the average for a 30-year mortgage today, up three basis points from last week. This is the highest that rates have been in over two years.
“This week’s mortgage rate survey was completed prior to the FOMC announcement,” Freddie Mac’s Sean Becketti said. “The MBA’s Applications Survey posted drops in both refinance and purchase applications, registering the impact of recent mortgage rate increases. If rates continue their upward trend, expect mortgage activity to be significantly subdued in 2017.”
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_jump_following_fed_rate_hike/11989
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First-Timer Primers
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Northern Virginia
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Ballston
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Clarendon
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Columbia Pike
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Crystal City
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Lyon Village
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Rosslyn
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Shirlington
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Del Ray
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Eisenhower Avenue
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Huntington
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Old Town
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Parkfairfax
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Downtown Falls Church
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Tysons Corner
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Maryland
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Annapolis
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Bethesda
Bedroom Community Gets Buzzing Cache
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Cabin John
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Chevy Chase
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Downtown Silver Spring
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Potomac
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Rockville Town Square
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Takoma Park
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Wheaton
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Capitol Heights
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Hyattsville
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Mount Rainier
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National Harbor
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Riverdale Park
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Northwest DC
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16th Street Heights
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Bloomingdale
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AU Park
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Brightwood
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Burleith
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Cathedral Heights
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Chevy Chase DC
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Cleveland Park
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Columbia Heights
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Crestwood
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Dupont Circle
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Foggy Bottom & West End
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Forest Hills
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Foxhall Village
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Friendship Heights
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Georgetown
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Glover Park
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Kalorama
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LeDroit Park
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Logan Circle
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Mount Pleasant
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Mount Vernon Triangle
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Palisades
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Park View
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Penn Quarter/Chinatown
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Petworth
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Shaw
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Shepherd Park
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Spring Valley
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Takoma
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Tenleytown
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U Street Corridor
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Woodley Park
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Adams Morgan
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Southwest DC
The little quadrant that could
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Southwest Waterfront
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Northeast DC
Profiles of 10 neighborhoods in NE
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Brookland
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Deanwood
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Eckington
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Fort Totten
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H Street
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Langdon
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Michigan Park
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NoMa
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Rosedale
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Trinidad
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Woodridge
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Southeast DC
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Capitol Riverfront
Still Growing
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Hill East
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Congress Heights
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Hillcrest
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Historic Anacostia
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Eastern Market
A More European Way of Living
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Off the Beaten Turf
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Unique Spaces
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