3.59: Mortgage Rates Hit 21-Month Low
✉️ Want to forward this article? Click here.
Mortgage rates have dipped again after experiencing a brief upswing last week.
The average rate on a 30-year fixed-rate mortgage was 3.59 percent this week, according to Freddie Mac. That’s down from 3.66 last week and 4.32 percent a year ago. It is the lowest that rates have been since May 2013.
In a news release Len Kiefer, Freddie Mac’s deputy chief economist, attributed the downward movement to disappointing home sales news.
“Mortgage rates fell this week following the release of weaker than expected pending home sales, which fell 3.7 percent in December,” he said. “Moreover, real GDP growth for the fourth quarter was 2.6 percent and the Institute for Supply Management reported slower growth in manufacturing last month, both missing market consensus forecasts.”
UrbanTurf is following the path of the rates in this chart:
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: mortgage rates
This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/3.59_mortgage_rates_head_south_again/9497.
Most Popular... This Week • Last 30 Days • Ever
Forest Hills Connection is reporting that the owner of the Days Inn along Connecticut... read »
This week’s Best New Listings includes a bi-level condo north of Adams Morgan's mai... read »
On Monday, the listing price for the 30,000 square foot home that was originally buil... read »
The eight-bedroom estate built by Banks Development along Chain Bridge Road will be l... read »
The 67-room luxury hotel will be located at 3000 M Street NW, the site of the old Lat... read »
- A Plan For More Development In Van Ness?
- Best New Listings: Windows Galore on Biltmore; One Up, One Down on Swann
- The Price For Dan Snyder's Former Potomac Home Drops By $5 Million
- DC Home At Site Of Former Cafritz Mansion Set To List For $23.5 Million
- Jose Andres Group Partners On New Georgetown Hotel
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