3.95: Mortgage Rates Jump Back Up
✉️ Want to forward this article? Click here.
After three straight weeks of record setting lows, mortgage rates jumped back up today.
This morning, Freddie Mac reported 3.95 percent with an average 0.8 point as the average on a 30-year fixed mortgage. Rates had been hovering around record lows of 3.87 percent for the past three weeks and despite increasing this week, they have now been below 4 percent for twelve consecutive weeks.
From Freddie Mac vice president and chief economist Frank Nothaft:
New data releases this week suggest the housing market is continuing to gradually improve. The Census Bureau reported new residential construction starts in January outpaced the market consensus forecast, led by condominiums and apartment buildings, and December’s figures had upward revisions. Finally, existing home sales were at the strongest pace in January since May 2010, according to the National Association of Realtors.
While rates are remain low, a recent Wall Street Journal article makes a case for why they should be even lower.
Here’s a look at the path of rates since last January:
See other articles related to: freddie mac, interest rates, mortgage rates
This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/3.95_mortgage_rates_jump_back_up/5185.
Most Popular... This Week • Last 30 Days • Ever
Monument Realty and Mosaic Realty Partners redevelopment plans for a surface parking ... read »
Plans to convert a downtown DC office building into a large apartment project continu... read »
Another missing middle development has been proposed along Brookland's main throughfa... read »
Kite House at The Parks at Walter Reed sold seven residences in September alone. The ... read »
Maybe it was falling interest rates or perhaps more homes hitting the market, but buy... read »
- 235-Unit Development With Public Park Pitched For Downtown Bethesda Looks To Move Forward
- 400-Unit Office-To-Residential Conversion Pitched in DC's West End Heads To BZA
- From One Home to 9 Apartments Along Brookland's Main Drag
- A No Down Payment Assistance Program at Kite House, DC’s Best Selling Condominium
- September Surge? Home Sales Pick Up In DC Area, But It May Not Last
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