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Mortgage Rates Fall But Not By Much

  • February 6th

by UrbanTurf Staff

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Mortgage rates headed south on Thursday, as buyers begin to get off the sidelines. 

Freddie Mac reported 6.89% as the average on a 30-year mortgage, down six basis points from last week. 

“Mortgage rates have been stable over the last month and incoming data suggest the economy remains on firm footing," said Sam Khater, Freddie Mac’s Chief Economist. "Even though rates are higher compared to last year, the last two weeks of purchase applications are modestly above what we saw a year ago, indicating some latent demand in the market.”

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/mortgage_rates_fall_but_not_by_much/23159.

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