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4.39%: Mortgage Rates Continue to Seesaw

  • August 1st 2013

by UrbanTurf Staff

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4.39%: Mortgage Rates Continue to Seesaw: Figure 1

Mortgage rates continued their seesaw this week.

On Thursday morning, Freddie Mac reported 4.39 percent with an average 0.7 point as the average on a 30-year fixed-rate mortgage.

Since late June, rates have been wavering around the mid-4 percent range. Last week, rates averaged 4.31 percent. The week before that, they were at 4.37. And three weeks ago, they averaged 4.51 percent.

From Freddie Mac vice president and chief economist Frank Nothaft on today’s rates:

Mortgage rates rose slightly leading up to the Federal Reserve’s monetary policy statement this week. The statement indicated no change in monetary policy. The Fed indicated that the economy expanded at a modest pace, but the unemployment rate remains elevated.

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.

Here’s a look at the path of rates since January 2010:

4.39%: Mortgage Rates Continue to Seesaw: Figure 2

See other articles related to: freddie mac, interest rates

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/4.39_mortgage_rates_continue_to_seesaw/7401.

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