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6.88%: Mortgage Rates Drop Back Down

  • March 8th 2024

by UrbanTurf Staff

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After a month of increases, long-term mortgage rates headed down this week.

On Thursday, Freddie Mac reported 6.88% as the average on a 30-year mortgage, down 6 basis points from last week. 

“Evidence that purchase demand remains sensitive to interest rate changes was on display this week, as applications rose for the first time in six weeks in response to lower rates,” said Sam Khater, Freddie Mac’s Chief Economist. 

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 rate

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/688_mortgage_rates_drop_back_down/22052.

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