For the twelfth-straight week, mortgage rates in the U.S. remain below 4%. This may signal many good things for the housing market – but mostly, that financing is still available and great rates are still possible. The twelve-week run also provides needed confidence in the stability of the market.
“As the shock of the weak September employment report wore off, Treasury rates drifted higher,” said Sean Becketti, Chief Economist with Freddie Mac. “In response, the 30-year mortgage rate climbed 6 basis points to 3.82 percent, marking 12 consecutive weeks below 4 percent. Late-breaking news suggests mortgage rates may remain in this territory a while longer.”
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Source: Freddie Mac