The little time that mortgage rates spent above 4 percent at the end of 2015 seems like a distant memory given what they have been doing in the new year.
On Thursday, Freddie Mac reported that a 30-year fixed-rate mortgage averaged 3.81 percent with an average 0.6 point, an 11 basis point drop from last week. Rates have now dropped for three weeks in a row.
“This drop reflected weak inflation — 0.7 percent CPI inflation for all of 2015 — and nonstop financial market turbulence that is driving investors to the safe haven of Treasuries,” Freddie Mac’s Sean Becketti said in a statement.
While rates are now substantially below 4 percent, they are not as low as they were a year ago. This week in 2015, rates averaged 3.63 percent.
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_due_to_market_turbulence/10786
Most Popular... This Week • Last 30 Days • Ever
The Brooks—a collection of 89 elegantly appointed condominiums at The Parks at Walt... read »
Landmark Theatres is in the final stages of negotiations that would have it operating... read »
The planned 8-unit development would be located on K Street right along the Potomac R... read »
The next phase on the Center Block would deliver 166 apartments and 221 hotel rooms.... read »
DC's crane count still ranks as one of the highest among U.S. cities despite a declin... read »
UrbanTurf has compiled virtual looks at large new developments around the DC region.... read »
The preferred mortgage product among most home buyers is the fixed-rate mortgage. How... read »
STAY DC provides rental aid and utility payment grants to at-risk District residents ... read »
The yet-to-be-built home may set a new bar for luxury in the residential real estate ... read »
Federal Realty plans to eventually file a planned unit development application for th... read »
With this weekend's DC houseboat tour a day away, UrbanTurf thought it only fitting t... read »
President Obama travels to Denver this morning to sign the stimulus bill that has bee... read »
In this week's installment of Ask An Agent, a reader wonders if there is a rule for h... read »
As The Wharf prepares to begin construction, DC's houseboat community heads to its ne... read »
In this week's installment of Ask An Agent, a reader asks a fairly common question th... read »
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. Visit guides.urbanturf.com or start browsing below!
Intro guides for first-time home buyers
Awesome and unusual real estate from across the DC Metro