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Long-Term Mortgage Rates Tick Down, Buyers Digest Drop

  • October 9th

by UrbanTurf Staff

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Mortgage rate chart_10-09-25.png

On Thursday, long-term mortgage rates fell back to familiar territory. 

Freddie Mac reported 6.30% as the average on a 30-year mortgage on Thursday, down four basis points from last week. Two weeks ago, rates were also 6.3%.

“Over the last few weeks, mortgage rates have settled in at their lowest level in about a year," said Sam Khater, Freddie Mac’s Chief Economist. "There is growing evidence that homebuyers are digesting these lower rates and gradually are willing to move forward with buying a home, which is boosting purchase activity.”

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_tick_down_buyers_digest_drop/23954.

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