Still under 3.
The 30-year fixed-rate mortgage averaged 2.99 percent this week, up just slightly from last week, Freddie Mac announced Thursday in its Primary Mortgage Market Survey.
The survey found:
- The 30-year fixed-rate mortgage averaged 2.99 percent with an average 0.8 point for the week ending August 20, up from last week’s 2.96 percent and well below last year’s 3.55 percent.
- The 15-year fixed-rate mortgage averaged 2.54 percent with an average 0.7 point, up from last week’s 2.46 percent and last year’s 3.03 percent.
- The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 2.91 percent with an average 0.3 point, up from last week’s 2.90 percent and last year’s 3.32 percent.
“Purchase housing demand continues to accelerate, ultimately providing support to an economy that otherwise has stagnated,” Freddie Mac’s Chief Economist Sam Khater said. “The surge in sales led to a rapid increase in the demand for remodeling and home furnishings as consumers look to renovate while adjusting to home life during COVID.”