Mortgage rates started out 2018 by dropping.
Freddie Mac reported 3.95 percent with an average 0.5 point as the average for a 30-year mortgage on Thursday, dropping four basis points from last week.
“Despite increases in short-term interest rates, long-term interest rates remain subdued,” Freddie Mac’s Len Kiefer said in a release. “The 30-year mortgage rate is down a quarter of a percentage point from where it was a year ago and the spread between the 30-year fixed and 5/1 adjustable rate mortgage is the lowest since 2009.”
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_kick_off_2018_by_dropping_to_3.95/13412.
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