Long-Term Interest Rates Drop For Third Week

by Tianna Mañón

Long-Term Interest Rates Drop For Third Week: Figure 1

Long-term interest rates have declined for the third week in a row, Freddie Mac reported Thursday.

A 30-year fixed-rate mortgage averaged 3.93 percent with an average 0.6 point, a two basis point drop from last week’s 3.95 percent. Last year at this time, rates sat at 3.89 percent.

“Treasury yields ticked down 3 basis points after weak manufacturing data,” Freddie Mac’s Sean Becketti said. “In response, the 30-year mortgage rate dropped 2 basis points to 3.93 percent. After the survey closed, Yellen implied that the economy is ready for a rate hike in December. However, all eyes remain on this Friday’s jobs report, the last significant release prior to the FOMC’s meeting.”

Long-Term Interest Rates Drop For Third Week: Figure 2

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 http://dc.urbanturf.com/articles/blog/rates_drop_for_third_week/10654

1 Comment

  1. JPDownsMortgage said at 8:43 pm on Thursday December 3, 2015:
    That was, until the ECB decided to drop a bomb on markets today, 12/3! Rates have popped .25% in the last two trading sessions. Tomorrow's Job's report will certainly add to the volatility...

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