Long-Term Mortgage Rates Drift South
✉️ Want to forward this article? Click here.
Long-term mortgage rates fell a bit this week.
Freddie Mac reported 5.12% with an average 0.8 point on Thursday, down 9 basis points compared to last week. A year ago at this time, rates averaged 2.86%.
story continues below
loading...story continues above
“Inflation appears to be beyond its peak, which has stopped the rapid increase in mortgage rates that the housing market was experiencing earlier this year,” Freddie Mac's Sam Khater said in a statement. “The market continues to absorb the cumulative impact of the large price and rate increases that led to a plunge in affordability. As a result, over the rest of the year purchase demand likely will continue to drag, supply will modestly increase, and home price growth will decelerate.”
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/long-term-mortgage-rates-drift-south/19983.
Most Popular... This Week • Last 30 Days • Ever
Forest Hills Connection is reporting that the owner of the Days Inn along Connecticut... read »
This week’s Best New Listings includes a bi-level condo north of Adams Morgan's mai... read »
On Monday, the listing price for the 30,000 square foot home that was originally buil... read »
The eight-bedroom estate built by Banks Development along Chain Bridge Road will be l... read »
The 67-room luxury hotel will be located at 3000 M Street NW, the site of the old Lat... read »
- A Plan For More Development In Van Ness?
- Best New Listings: Windows Galore on Biltmore; One Up, One Down on Swann
- The Price For Dan Snyder's Former Potomac Home Drops By $5 Million
- DC Home At Site Of Former Cafritz Mansion Set To List For $23.5 Million
- Jose Andres Group Partners On New Georgetown Hotel
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