6.29%: Mortgage Rates Continue to Head North
✉️ Want to forward this article? Click here.
After topping 6% last week, long-term mortgage rates continued heading up on Thursday.
Freddie Mac reported 6.29% with an average 0.8 point, up a quarter of a percent compared to last week.
story continues below
loading...story continues above
“The housing market continues to face headwinds as mortgage rates increase again this week, following the 10-year Treasury yield’s jump to its highest level since 2011,” Freddie Mac's Sam Khater said. “Impacted by higher rates, house prices are softening, and home sales have decreased. However, the number of homes for sale remains well below normal levels.”
With interest rates rising this high, it is important to understand how points work. See UrbanTurf's primer on mortgages and points from last week here.
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: interest rates, mortgage rates
This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/629_mortgage_rates_continue_to_head_north/20114.
Most Popular... This Week • Last 30 Days • Ever
UrbanTurf is re-publishing an article with updated links that is a step-by-step way t... read »
The DC Council passed a bill on Tuesday that could bring thousands of new electric ca... read »
MRP Realty and Florida Rock have plans in the works for two large new residential bui... read »
Development along the Maryland side of the Rhode Island Avenue corridor continues to ... read »
Last week, UrbanTurf took a look at the Maryland suburbs with the highest home price ... read »
- How to Obtain a Basic Business License For Your DC Rental
- DC Council Passes Bill That Would Bring Thousands Of New EV Stations To The City
- Plans For 600 Apartments Next To Nats Park Heads To Zoning Commission
- The 3,000 Units in the Works From Route 1 to Hyattsville
- The 6 Northern Virginia Zip Codes With Highest Home Price Appreciation in 2024
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