4.50: Mortgage Rates Take a Dip
✉️ Want to forward this article? Click here.
Interest rates took a bit of a dip this week.
On Thursday morning, Freddie Mac reported 4.50 percent with an average 0.7 point as the average on a 30-year fixed-rate mortgage. Last week, rates averaged 4.57 percent and in August, they hit a yearly high of 4.58 percent.
From Freddie Mac vice president and chief economist Frank Nothaft on today’s rates:
Mortgage rates drifted downwards this week amid signs of a weakening economic recovery. Retail sales rose 0.2 percent in August which was nearly half of July’s 0.4 percent increase. In addition, industrial production in August grew 0.4 percent, less than the market consensus forecast. And lastly, consumer sentiment fell for the second consecutive month in September to the lowest reading since April. This, in part, was why the Federal Reserve chose to maintain its MBS and bond-buying program at its September 12th and 13th monetary policy committee meeting.
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:
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_50_rates_take_a_dip/7579.
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