Real Estate

Election Adjustment: 30 Year Mortgages Rise to 3.94%

The mortgage banking industry picked up a raise for their industry as 30 year mortgage interest rates had their largest increase of the year. The industry took advantage of the US election to bump the rates up with an average increase of 0.5% points across the country. Rates on 30 year mortgage interest rates reached 3.94%.

This is the highest mortgage rates have been since January of this year.

“The mortgage industry is a for-profit industry and they’ve taken the election as a chance to increase the super low interest rates that have been in place all this year” said Gerard DiRuggiero, Principal Broker of UrbanLand Company. “Let’s home area home buyers and homeowners wishing to refinance pull the trigger now before further increases start to occur.”

There’s no need to panic. Interest rates at 3.94% are still far lower than your parents paid for their home mortgage. The best way to get started is to join us at our popular First Time Home Buyer Workshops twice a week. We meet Tuesday nights at 5:30pm and Saturday mornings at 10am where we introduce $0 Down and subsidized down payment programs, and show you how to use the financing strategically in the local real estate market. We’re real estate agents and can smoothly transition you into actually buying and owning a home or condo if you can follow our playbook!


Workshops are FREE of charge and are held at 913 Florida Ave. NW. near the U Street METRO. UrbanLand Company Home Buyer Workshops have produced over 1,380 in purchased homes since 2014 for DC and Maryland residents, many of which are $0 Down or low down payment loans.

Where’s our interest rate numbers come from? We get our data from Freddie Mac’s weekly survey of bank rates around the USA. The actual interest rate on your home loan can be different based on a variety of personal factors, including your credit score, amount of down payment, home purchase price, your debt-to-income ratio and other variables. Email us for how to get pre-qualified for a local mortgage! UrbanLand Company real estate agents have a high degree of success in helping buyers get financed!

Here’s some of the homes we’ve sold to Workshop attendees!


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