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3.6%: Mortgage Rates Inch Up This Week

  • August 29th 2019

by UrbanTurf Staff

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Long-term mortgage rates rose ever so slightly this week, but remain quite low by historical standards. 

On Thursday, Freddie Mac reported 3.58 percent with an average 0.5 point as the average for a 30-year mortgage, up three basis points from last week. Long-term rates still remain at their lowest level in almost three years.

“Low mortgage rates along with a strong labor market are fueling the consumer-driven economy by boosting their purchasing power, which will certainly support housing market activity in the coming months," Freddie Mac's Sam Khater said in a release. 

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/36-mortgage-rates-inch-up-this-week/15815.

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