Mortgage rates aren’t budging.
For the second week in a row, the 30-year fixed-rate mortgage average didn’t move at all, according to Freddie Mac’s weekly Primary Mortgage Market Survey released Thursday.
The survey found:
- The 30-year fixed-rate mortgage averaged 2.73 percent with an average 0.7 point, unchanged from last week and well below last year’s 3.47 percent.
- The 15-year fixed-rate mortgage averaged 2.19 percent with an average 0.6 point, down from last week’s 2.21 percent and last year’s 2.97 percent.
- The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 2.79 percent with an average 0.2 point, up slightly from last week’s 2.78 percent and down from last year’s 3.28 percent.
“It’s a tale of two economies. The services economy remains in the doldrums, but the production side of the economy remains strong,” said Sam Khater, Freddie Mac’s Chief Economist. “New COVID-19 cases are receding, which is encouraging and that has led to a rise in Treasury rates. But the run-up in Treasury rates has not impacted mortgage rates yet, which have held firm.”