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Freddie Mac: Mortgage Rates Could Remain Below 4% 'A While Longer'

  • October 15th 2015

by Tianna Mañón

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Freddie Mac: Mortgage Rates Could Remain Below 4% 'A While Longer': Figure 1

Mortgage rates remained below 4 percent for the twelfth week in a row, continuing a run of about three months of low rates.

On Thursday, Freddie Mac reported that the average rate on a 30-year fixed-rate mortgage was 3.82 percent with an average 0.6 point. Rates rose slightly from last week’s 3.76 percent.

Sean Becketti, chief economist with Freddie Mac said this week’s rate is likely what we’ll continue to see in the coming weeks.

“As the shock of the weak September employment report wore off, Treasury rates drifted higher,” Becketti said in a statement. “In response, the 30-year mortgage rate climbed 6 basis points to 3.82 percent, marking 12 consecutive weeks below 4 percent. Late-breaking news suggests mortgage rates may remain in this territory a while longer.”

Freddie Mac: Mortgage Rates Could Remain Below 4% 'A While Longer': 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.

See other articles related to: freddie mac, mortgage rates

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/3.82_rates_below_four_percent_for_three_months/10458.

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