Mortgage Rates Head North of 4 Percent
✉️ Want to forward this article? Click here.
On Thursday morning, Freddie Mac reported 4.02 percent with an average 0.5 point as the average on a 30-year fixed-rate mortgage.
Rates have been uncharacteristically low for much of 2014, but began rising last week, when they hit 3.98 percent. A year ago, rates were 4.16 percent.
Freddie Mac’s chief economist Frank Nothaft said in a news release that better-than-expected economic news had contributed to the rates’ rise.
“The rate increases coincide with real GDP beating consensus expectations of 3.0 percent growth by growing at an annualized rate of 3.5 percent in the third quarter. The ISM Manufacturing Index also beat expectations registering 59 in October, up from September’s reading of 56.6.”
UrbanTurf is tracking 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: freddie mac, mortgage rates
This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/4.02_mortgage_rates_north_of_4_percent/9194.
Most Popular... This Week • Last 30 Days • Ever
UrbanTurf takes a look at the options DC homeowners and residents have to take advant... read »
Last week, UrbanTurf took a look at the Maryland suburbs with the highest home price ... read »
The National Geographic Society has big plans for its downtown DC campus.... read »
Add another new retailer to the growing list of openings in the neighborhood.... read »
In April, the Mount Vernon Triangle neighborhood of DC will welcome Claret: one of th... read »
- A Solar Panel Primer for DC Residents
- The 6 Northern Virginia Zip Codes With Highest Home Price Appreciation in 2024
- National Geographic To Open Museum, 400-Seat Theater In Downtown DC
- Huckberry Plans To Open Georgetown Store
- A First Look At The Amenity-Rich, Luxury Condominium Coming Soon to Downtown DC
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