Below 3%

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According to the Washington Post, mortgage rates were above 3 percent but only for a week before they slid back below that level.

Questions:

  1. What is the 30-year fixed average percentage on a 30-year mortgage?
  2. What are points on a mortgage?
  3. What is Freddie Mac?
  4. How many lenders across the country are aggregated to come up with Freddie Mac’s weekly national averages?

Source:

Orton, K. (2021). Mortgage rates dip back below 3 percent. The Washington Post, July 1 (Retrievable online at https://www.washingtonpost.com/business/2021/07/01/mortgage-rates-dip-back-below-3-percent/)