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Mortgage Rates Tick Up But Remain At Lowest Level In Years

  • January 30th

by UrbanTurf Staff

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Long-term interest rates ticked up this week, but remain at their lowest level in years. 

Freddie Mac reported 6.10% as the average on a 30-year mortgage on Thursday, up one basis point compared to last week.  

“Mortgage rates remain near their lowest levels in three years, which is encouraging for potential homebuyers who have waited to enter the market for some time,” said Sam Khater, Freddie Mac’s Chief Economist. “Lower rates, combined with strong income growth, have led to a steady increase in purchase applications compared to last year."

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.

See other articles related to: interest rates, mortgage rates

This article originally published at https://dc.urbanturf.com/articles/blog/mortgage_rates_tick_up_but_remain_at_lowest_level_in_years/24269.

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