What's Hot: Mortgage Rates Fall Towards 6% Following Fed Cut
4.61%: Mortgage Rates Hit New Low For 2011
✉️ Want to forward this article? Click here.
A week after hitting their low for the year, long-term mortgage rates have once again headed downward. This morning, Freddie Mac reported 4.61 percent with 0.7 of a point as the average on a 30-year fixed-rate mortgage, down from 4.63 percent last week. A year ago, 30-year rates were at 4.84 percent.
Freddie Mac vice president and chief economist Frank Nothaft on today’s rates:
Fixed mortgage rates inched down for the fifth consecutive week as financial markets try to ascertain the current strength of the economy. Data on the housing market was also mixed. New construction on single-family homes fell 5.1 percent in April, with the largest declines occurring in the Midwest and South regions where tornados hit the hardest. Homebuilder confidence remained unchanged in May and near its January 2009 historical low, according to the NAHB/Wells Fargo Housing Market Index. However, conventional mortgages applications rose for the past five straight weeks ending May 13th, buoyed by lower mortgage rates and stronger refinancing activity.
Here’s a look at the path of mortgage 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/4.61_mortgage_rates_hit_new_low_for_2011/3519.
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