What's Hot: Mortgage Rates Fall Towards 6% Following Fed Cut
4.51%: Mortgage Rates Remain Steady
✉️ Want to forward this article? Click here.
Long-term mortgage rates rose ever so slightly this week. Freddie Mac reported that the average on a 30-year fixed-rate mortgage increased to 4.51 percent with 0.7 of a point, up from 4.5 percent last week.
While 30-year rates rose, 5-year adjustable-rate mortgages hit a record low at 3.22 percent; the previous record of 3.25 percent was set last November.
Freddie Mac vice president and chief economist Frank Nothaft on this week’s rates:
Interest rates on 30-year fixed mortgages hovered around 4.5 percent for the fourth consecutive week following mixed reports on the strength of the economy. First quarter economic growth was revised up in the final estimate, but growth in consumer spending stagnated in May while April’s figure was revised downward.
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/4.51_mortgage_rates_remain_steady/3744.
Most Popular... This Week • Last 30 Days • Ever
Mortgage rate buydowns can be a good option for buyers who want to save money on inte... read »
Plans filed this week provide the latest look at the 106-key hotel in the works at an... read »
A plan to add another new residential building to the Friendship Heights pipeline is ... read »
The eight-bedroom, 35,000 square-foot home in McLean known as The Cliffs went under c... read »
The large new development would take the place of the Ballston One office building al... read »
- How Does a Mortgage Rate Buydown Work?
- A Look At Georgetown's New 100-Key Hotel Along The Canal
- Donohoe Files PUD For 127-Unit Development in Friendship Heights
- A $30 Million Sale? One Of The DC Area's Most Expensive Homes Finds A Buyer
- Updated Plans Filed For 328-Unit Development At Arlington Office Site
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