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Mortgage Rates Rise For Third Week in a Row

  • October 31st 2019

by UrbanTurf Staff

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After dropping below 3.6 percent earlier this month, long-term mortgage rates have now risen for three consecutive weeks. 

On Thursday, Freddie Mac reported 3.78 percent with an average 0.5 point as the average for a 30-year mortgage, up 21 basis points from October 10. 

“This week marks the third consecutive week of rate increases, which hasn’t happened since April of this year," Freddie Mac's Sam Khater said in a release. "That said, purchase activity continues to show strength, indicating obvious homebuyer demand. However, the lack of housing supply remains a major barrier to not just the housing market, but the overall economic recovery.”

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: mortgage rates

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/mortgage-rates-rise-for-third-week-in-a-row/16090.

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