Another week, another new record low for mortgage rates.
Freddie Mac released its weekly Primary Mortgage Market Survey on Thursday, showing the average 30-year fixed-rate mortgage dropped to 2.66 percent – the lowest rate in the survey’s 50-year history.
The survey found:
- The 30-year fixed-rate mortgage averaged 2.66 percent with an average 0.7 point for the week ending Christmas Eve, down from last week’s 2.67 percent and last year’s 3.74 percent.
- The 15-year fixed-rate mortgage averaged 2.19 percent with an average 0.5 point, down from last week’s 2.21 percent and last year’s 3.19 percent.
- The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 2.79 percent with an average 0.2 point, unchanged from last week and down from last year’s 3.45 percent.
“The housing market is poised to finish the year strong as low mortgage rates continue to fuel homebuyer demand and refinance activity,” said Sam Khater, Freddie Mac’s Chief Economist. “Moving into 2021, we expect rates to hold steady but the key driver in the near term will be the trajectory of the COVID-19 pandemic and the execution of the vaccine.”