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Mortgage Rates Drop Again, Down 30 Basis Points in Two Weeks

  • November 16th 2023

by UrbanTurf Staff

Mortgage rate chart_11-16-23.png

The streak of mortgage rates dropping continues this week. 

Freddie Mac reported 7.44% as the average on a 30-year mortgage on Thursday, down 6 basis points from last week. 

“For the third straight week, mortgage rates trended down, as new data indicates that inflationary pressures are receding,” said Sam Khater, Freddie Mac’s Chief Economist. “The combination of continued economic strength, lower inflation and lower mortgage rates should likely bring more potential homebuyers into the market."

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 rate

This article originally published at https://dc.urbanturf.com/articles/blog/mortgages_rates_drop_again_down_30_points_in_two_weeks/21699.

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