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Mortgage Rates Hit Lowest Level Since March

  • July 18th 2024

by UrbanTurf Staff

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Long-term mortgage rates continued their trajectory downward this week. 

On Thursday, Freddie Mac reported 6.77% as the average on a 30-year mortgage, down 12 basis points from last week. 

"The 30-year fixed-rate mortgage fell to its lowest level since mid-March, dropping 12 basis points from last week,” said Sam Khater, Freddie Mac’s Chief Economist. “Mortgage rates are headed in the right direction and the economy remains resilient, two positive incremental signs for the housing 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_hit_lowest_level_since_march/22530.

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