30-Year Mortgage Rates Fall To 2.77%

Mortgage rates decreased slightly this week, remaining firmly below 3 percent – where they have remained since late July, according to Freddie Mac’s weekly Primary Mortgage Market Survey released Thursday. The survey found: The 30-year fixed-rate mortgage averaged 2.77 percent with an average 0.7 point, down from last week’s 2.79 percent and last year’s 3.60 percent.The 15-year fixed-rate mortgage averaged 2.21 percent with an average 0.6 point, down from last week’s 2.23 percent and last year’s 3.04 percent.The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 2.80 percent with an average 0.4 point, down from last week’s 3.12 percent and last year’s 3.28 percent. “Mortgage rates have hovered near historic lows for almost a year, fueling purchase and refinance activity amid a…

Mortgage Rates Close 2020 Near Record Lows

Mortgage rates closed 2020 where they spent much of the year – near historic lows. For the week ending December 31, Freddie Mac’s weekly Primary Mortgage Market Survey found: The 30-year fixed-rate mortgage averaged 2.67 percent with an average 0.7 point, up slightly from last week’s record low 2.66 percent and well below last year’s 3.72 percent.The 15-year fixed-rate mortgage averaged 2.17 percent with an average 0.7 point, down from last week’s 2.19 percent and last year’s 3.16 percent.The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 2.71 percent with an average 0.4 point, down from last week’s 2.79 percent and last year’s 3.46 percent. “All eyes have been on mortgage rates this year, especially the 30-year fixed-rate, which has dropped more…

Mortgage Rates Dip To 2.66%

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…

Mortgage Rates Stuck At Record Low

Mortgage rates in the United States didn’t budge from record-low levels this week, Freddie Mac reported Thursday in its weekly Primary Mortgage Market Survey. The survey found: The 30-year fixed-rate mortgage averaged 2.71 percent with an average 0.7 point for the week, unchanged from last week and down from last year at this time when it averaged 3.73 percent.The 15-year fixed-rate mortgage averaged 2.26 percent with an average 0.6 point, also unchanged from last week and down from last year’s 3.19 percent.The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 2.79 percent with an average 0.3 point, down from last week’s 2.86 percent and last year’s 3.36 percent. “Mortgage rates remain at record lows, resisting their typical correlation to Treasury yields, which…

Mortgage Rates Steady At 2.72%

Mortgage rates didn’t budget this week from their record low, Freddie Mac reports in its weekly Primary Mortgage Market Survey. They survey found: The 30-year fixed-rate mortgage averaged 2.72 percent with an average 0.7 point, unchanged from last week and well below last year’s 3.68 percent.The 15-year fixed-rate mortgage averaged 2.28 percent with an average 0.6 point, also unchanged from last week and down from last year’s 3.15 percent.The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.16 percent with an average 0.3 point, up from last week’s 2.85 percent and down from last year’s 3.43 percent. “Mortgage rates remain at record lows and while that has fueled a refinance boom, it’s been driven mainly by higher income borrowers. With about 20…

Mortgage Rates Plunge To New Record Low

It’s a Lucky 13 for borrowers. For the 13th time this year, 30-year fixed-rate mortgage rates set a new record low – this time falling to 2.72 percent, according to a Freddie Mac’s Primary Mortgage Market Survey released Thursday. The survey found: The 30-year fixed-rate mortgage averaged 2.72 percent with an average 0.7 point for the week, down from last week’s 2.84 percent and last year’s 3.66 percent.The 15-year fixed-rate mortgage averaged 2.28 percent with an average 0.6 point, down from last week’s 2.34 percent and last year’s 3.15 percent.The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.85 percent with an average 0.3 point, down from last week’s 3.11 percent and last year’s 3.39 percent. “Weaker consumer spending data, which accounts…

Mortgage Rates Hit Record Low – Again

Mortgage rates dropped to 2.81 percent this week, another new record and the 12th straight week rates have stayed under 3 percent, Freddie Mac reported Thursday in its weekly mortgage market survey. The survey found: The 30-year fixed-rate mortgage averaged 2.81 percent with an average 0.6 point for the week ending October 15, 2020, down from last week’s 2.87 percent and last year’s 3.69 percent.The 15-year fixed-rate mortgage averaged 2.35 percent with an average 0.5 point, down from last week’s 2.37 percent and last year’s 3.15 percent.The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 2.90 percent with an average 0.2 point, down from last week’s when it averaged 2.89 percent and last year’s 3.35 percent. “Low mortgage rates have become a regular…

Freddie Sees Low Mortgage Rates Through 2021

Mortgage rates are expected to remain near record lows through next year and home prices are expected to climb, though not as quickly as this year, according to Freddie Mac’s quarterly housing forecast. The forecast predicts: The average 30-year fixed-rate mortgage is expected to be 3.2 percent in 2020 and 3.0 percent in 2021. Currently, rates sit at 2.87 percent.House price growth is expected to increase to an annual rate of 5.5 percent in 2020 before slowing to 2.6 percent next year.Home sales are expected to increase in 2020 to 6.2 million homes and decrease in 2021 to 6.1 million homes.Purchase originations are expected to increase to $1.414 trillion in 2020 and $1.445 trillion in 2021.Refinance originations are expected to…

Mortgage Rates Hold Steady This Week

It’s not a new record – but it isn’t far off. The 30-year fixed-rate mortgage averaged 2.87 percent this week, up ever so slightly from last week’s 2.86 percent, according to Freddie Mac’s Primary Mortgage Market Survey released Thursday. The survey found: The 30-year fixed-rate mortgage averaged 2.87 percent with an average 0.8 point for the week ending September 17, down from 3.73 percent last year at this time.The 15-year fixed-rate mortgage averaged 2.35 percent with an average 0.8 point, down from last week’s 2.37 percent and last year’s 3.21 percent.The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 2.96 percent with an average 0.3 point, down from last week’s 3.11 percent and last year’s 3.49 percent. “Despite the recession, the very…

Mortgage Rates Fall To Near Record Lows

Mortgage rates dropped again this week, nearing the all-time record set earlier in August, Freddie Mac announced Thursday in its Primary Mortgage Market Survey. The survey found: The 30-year fixed-rate mortgage averaged 2.91 percent with an average 0.8 point for the week ending August 27, down from last week’s 2.99 percent and 3.58 percent a year ago.The 15-year fixed-rate mortgage averaged 2.46 percent with an average 0.7 point, down from last week’s 2.54 percent and last year’s 3.06 percent.  The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 2.91 percent with an average 0.2 point, unchanged from last week and down from last year’s 3.31 percent. The lowest 30-year rate on record is 2.88 percent. “This year has been anything but normal and…