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Article: Mortgage Interest Rates Likely to Decline Further;Analysts Predict a More Affordable Market

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The Washington Post
Article date:
January 20, 1990
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Mortgage interest rates, already at their lowest levels in nearly two years, are likely to decline further by midyear, mortgage lenders and economists said this week.

Lower rates should make it easier for more buyers to afford homes, and may give a much needed boost to home sales in such sluggish markets as the Washington area, they said.

Many D.C. area lenders are offering 30-year, fixed-rate mortgages at 9.25 or 9.375 percent while also charging borrowers loan fees, or points, of at least 3 percent of the mortgage amount. The lenders said that they expect rates to drop even further, possibly to 9 percent, by mid- to late-summer.

C. William Blomquist, president and chief executive of ...

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