Mortgage Rates Set New Record Low
✉️ Want to forward this article? Click here.
Long-term mortgage rates set an all-time record low this week, with Freddie Mac reporting 4.15 percent with 0.7 of a point as the average on a 30-year fixed mortgage, the lowest rate since tracking began in 1971. The previous low was set on November 10, 2010, when rates hit 4.17 percent.
From Freddie Mac vice president and chief economist Frank Nothaft:
The Federal Reserve’s policy statement last week and ongoing market concerns over the European debt market carried momentum into this week allowing all mortgage products in our survey to reach all-time record lows. For instance, 30-year fixed mortgage rates are now the lowest in over 50 years. In comparison, the Bureau of Economic Analysis estimated the average effective mortgage rate was about 5.3 percent on single-family loans outstanding during the second quarter of 2011.
Here’s a look at the path of rates since last January:
See other articles related to: freddie mac, interest rates, mortgage rates, mortgages
This article originally published at https://dc.urbanturf.com/articles/blog/mortgage_rates_set_new_record_low/4008.
Most Popular... This Week • Last 30 Days • Ever
Estate taxes, also known as inheritance taxes or death duties, are taxes imposed on t... read »
In this article, UrbanTurf will explore the considerations and steps involved in buyi... read »
The most expensive home to sell in the DC region in years closed on Halloween for an ... read »
The application may signal movement on the massive mixed-use project.... read »
Washingtonian is reporting that the national bookstore chain will open its doors the ... read »
- What Are Estate Taxes and How Do They Work?
- How An Unmarried Couple Buys a Home Together
- The Cliffs in McLean Sells For $25.5 Million, Highest Home Sale In DC Area In Years
- Raze Application Filed For Site Of 900-Unit Development, Food Hall Along Anacostia River
- Barnes and Noble Returns To Georgetown Next Week
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