Still High, Long-Term Rates Head Back Down
✉️ Want to forward this article? Click here.
Long-term mortgage rates retreated from their 20-year highs this week.
Freddie Mac reported 7.18% as the average on a 30-year mortgage on Thursday, down 5 basis points from last week.
story continues below
loading...story continues above
“Mortgage rates leveled off this week but remain elevated. Despite continued high rates, low inventory is keeping house prices steady,” said Sam Khater, Freddie Mac’s Chief Economist. “Recent volatility makes it difficult to forecast where rates will go next, but we should have a better gauge in September as the Federal Reserve determines their next steps regarding interest rate hikes.”
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/still_high_long-term_rates_head_back_down/21418.
Most Popular... This Week • Last 30 Days • Ever
This week’s Best New Listings includes two homes that are classic examples of listi... read »
This article discusses the variety of rental restrictions that may exist in condomini... read »
Today, UrbanTurf takes a look at the office-to-residential conversions on the boards ... read »
The new project is just the latest affordable development to move forward in DC.... read »
The beautiful four-story property, with three renovated units offering more than $200... read »
- Best New Listings: Classic In Takoma Park; Charming In AU Park
- Understanding Rental Restrictions in Condominiums
- A Look At The 9 Office-To-Residential Conversions On The Boards in DC
- 11-Story, 46-Unit Development Pitched For A Pair Of Downtown DC Rowhouses
- Elegant Dupont Circle Rowhouse, Boasting Huge Rental Income Potential, Hits the Market
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