What's Hot: RFK Stadium Cleared For Demolition | Airbnb Unveils Icons
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.
Most Popular... This Week • Last 30 Days • Ever
Georgetown Metropolitan reported on Tuesday that the Instagram account for the nation... read »
A Home Equity Line of Credit, commonly referred to as HELOC, is a borrowing product t... read »
The National Park Service has given the green light for DC's 62 year-old stadium to b... read »
UrbanTurf continues our tour of neighborhood developments around the region as we tak... read »
A regular inclusion as one of DC's most expensive housing markets, Georgetown remains... 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