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30-Year Mortgage Rates Tick Down

  • February 12th

by UrbanTurf Staff

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Mortgage rate chart_02-12-26.png

Another week, another small tweak for long-term mortgage rates. 

Freddie Mac reported 6.09% as the average on a 30-year mortgage on Thursday, down two basis points from last week. Since the beginning of the year, rates have hovered in a small 10 basis point window in the low 6% range. 

“Bolstered by strong economic growth, a solid labor market and mortgage rates at three-year lows, housing affordability continues to measurably improve," said Sam Khater, Freddie Mac’s Chief Economist. "These factors have caught the attention of many prospective homebuyers, driving purchase application activity higher than a year ago.” 

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: interest rates, mortgage rates

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/30-year_mortgage_rates_tick_down/24316.

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