What's Hot: Mortgage Rates Fall Towards 6% Following Fed Cut
3.69: Mortgage Rates Swing Back Up
✉️ Want to forward this article? Click here.
Mortgage rates are moving back up after dropping to a 21-month low last week.
The average rate on a 30-year fixed-rate mortgage was 3.69 percent this week, according to Freddie Mac. That’s up from 3.59 last week but down from 4.28 percent a year ago.
In a news release, Len Kiefer, Freddie Mac’s deputy chief economist, said strong economic news caused the jump.
“Mortgage rates rose this week following strong economic data. The economy added 257,000 new jobs in January after robust increases of 329,000 in December and 423,000 in November,” he said. “The unemployment rate edged up to 5.7 percent last month from 5.6 percent in December. Average hourly earnings rose 0.5 percent, following a 0.2 percent decline in December.”
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/3.69_mortgage_rates_swing_back_up/9525.
Most Popular... This Week • Last 30 Days • Ever
Mortgage rate buydowns can be a good option for buyers who want to save money on inte... read »
Plans filed this week provide the latest look at the 106-key hotel in the works at an... read »
A plan to add another new residential building to the Friendship Heights pipeline is ... read »
The eight-bedroom, 35,000 square-foot home in McLean known as The Cliffs went under c... read »
The large new development would take the place of the Ballston One office building al... read »
- How Does a Mortgage Rate Buydown Work?
- A Look At Georgetown's New 100-Key Hotel Along The Canal
- Donohoe Files PUD For 127-Unit Development in Friendship Heights
- A $30 Million Sale? One Of The DC Area's Most Expensive Homes Finds A Buyer
- Updated Plans Filed For 328-Unit Development At Arlington Office Site
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