1. 2020 Current Mortgage Rates [Primary Mortgage Market]
Based on the Freddie Mac Primary Mortgage Market Survey

2020 Current Average Mortgage Rates

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As the COVID-19 pandemic rages on, driving unemployment up and the stock market down, there is a silver lining for consumers: mortgage rates are in a virtual freefall.

2/6 2/13 2/20 2/27 3/5 3/12 3/19 3/26 4/2 3.45% 2.97% 3.32% 3.47% 2.97% 3.28% 3.49% 2.99% 3.25% 3.45% 2.95% 3.2% 3.29% 2.79% 3.18% 3.36% 2.77% 3.01% 3.65% 3.06% 3.11% 3.5% 2.92% 3.34% 3.33% 2.82% 3.4%
30-Year Fixed

According to the latest Freddie Mac Primary Mortgage Market Survey, the average 30-year fixed mortgage rate dropped to 3.33 percent for the week ending April 2. That’s compared to 3.5 percent the week before and 4.08 percent a year ago.

15-Year Fixed

The average 15-year fixed-rate fell from 2.92 percent to 2.82 percent. A year ago at this time, the 15-year rate averaged 3.56 percent.

5/1 ARM

Rates on 5-year adjustable-rate mortgages averaged 3.4 percent this week, up from 3.34 percent the week before. Last year, the average was 3.66 percent.

While some may hesitate to buy or sell a home in the current environment, it may be an ideal time to refinance. “Mortgage rates have drifted down for two weeks in a row and that drop reflects improvements in market liquidity and sentiment,” said Sam Khater, Freddie Mac’s chief economist.

“While the market has stabilized relative to prior weeks, homebuyer demand has declined in response to current economic conditions. The good news is that the pending economic stimulus is on the way and will provide support for both consumers and businesses.”

To demonstrate the possible benefits of refinancing in this environment, say you purchased a home in April 2010 with a $250,000 mortgage loan for 30 years. The average 30-year rate was 5 percent that month. Your monthly principal and interest payment would be $1,342. Your principal balance at the end of 10 years would be $198,827.

If you refinance the entire balance into another 30-year loan at this week’s average rate, your new monthly principal and balance payment would total $894. That’s a monthly savings of $448.

If you decide to just lower your rate and leave the payment schedule at 20 years, your new rate would be around 3.89 percent. That produces a monthly savings of $116.

Week of March 26, 2020

The Federal Reserve’s efforts to help the economy deal with the COVID-19 outbreak pushed mortgage rates down for the first time in three weeks.

1/30 2/6 2/13 2/20 2/27 3/5 3/12 3/19 3/26 3.51% 3.00% 3.24% 3.45% 2.97% 3.32% 3.47% 2.97% 3.28% 3.49% 2.99% 3.25% 3.45% 2.95% 3.2% 3.29% 2.79% 3.18% 3.36% 2.77% 3.01% 3.65% 3.06% 3.11% 3.5% 2.92% 3.34%
30-Year Fixed

The average rate for a 30-year fixed mortgage dropped to 3.50 percent during the week ending March 26. The week before, 30-year rates averaged 3.65 percent. Last year, the 30-year rate was 4.06 percent.

15-Year Fixed

Fifteen-year fixed rates fell below 3 percent again, ending the week at 2.92 percent. That was down from 3.06 percent the week before and 3.57 percent a year ago.

5/1 ARM

Average rates on 5-year adjustable-rate mortgages rose this week from 3.11 percent to 3.34 percent. A year ago at this time, the 5-year ARM averaged 3.75 percent.

“Similar to other segments of the economy, real estate demand is softening,” said Sam Khater, Freddie Mac’s chief economist. “However, the combination of the Fed’s actions and pending economic stimulus will provide substantial support to the mortgage markets.”

Bankrate.com listed the current 30-year fixed mortgage rate at 3.79 percent; 15-year fixed at 3.29 percent; 30-year jumbo rates at 3.84 percent; and a 5-year ARM at 3.43 percent.

Week of March 19, 2020

Two weeks after sinking to record lows, mortgage rates jumped in the latest Freddie Mac Primary Mortgage Market Survey.

1/23 1/30 2/6 2/13 2/20 2/27 3/5 3/12 3/19 3.60% 3.04% 3.28% 3.51% 3.00% 3.24% 3.45% 2.97% 3.32% 3.47% 2.97% 3.28% 3.49% 2.99% 3.25% 3.45% 2.95% 3.2% 3.29% 2.79% 3.18% 3.36% 2.77% 3.01% 3.65% 3.06% 3.11%
30-Year Fixed

For the week ending March 19, the average 30-year fixed rate jumped nearly 30 basis points from the week before. It was 3.65 percent this week, up from 3.36 percent the week before. Last year, 30-year rates averaged 4.28 percent.

15-Year Fixed

The average 15-year rate climbed as well, from 2.77 percent to 3.06 percent. A year ago, 15-year rates averaged 3.71 percent.

5/1 ARM

Rates for 5-year adjustable-rate mortgages rose from 3.01 percent to 3.11 percent this week. Last year at this time, the 5-year ARM averaged 3.84 percent.

“Mortgage rates rose again this week as lenders increased prices to help manage skyrocketing refinance demand. This is expected to be a short-term phenomenon as lenders work through their backlog,” said Sam Khater, Freddie Mac’s chief economist. “On the purchase front, daily loan purchase applications were rising as of mid-February but started to decline last Friday.”

Bankrate.com listed the current 30-year fixed mortgage rate at 3.98 percent; 15-year fixed at 3.20 percent; 30-year jumbo rates at 4.08 percent; and a 5-year ARM at 3.45 percent.

Week of March 12, 2020

Mortgage rate movements were mixed this week as the COVID-19 coronavirus threatened many parts of the U.S. economy with more impact expected over the next several weeks.

1/16 1/23 1/30 2/6 2/13 2/20 2/27 3/5 3/12 3.65% 3.09% 3.39% 3.60% 3.04% 3.28% 3.51% 3.00% 3.24% 3.45% 2.97% 3.32% 3.47% 2.97% 3.28% 3.49% 2.99% 3.25% 3.45% 2.95% 3.2% 3.29% 2.79% 3.18% 3.36% 2.77% 3.01%
30-Year Fixed

The average rate on a 30-year mortgage moved upward, ending the week of March 12 at 3.36 percent. That was seven basis points higher than the 3.29 percent record low average the week before. Last year, the average 30-year rate was 4.31 percent.

15-Year Fixed

Rates on 15-year fixed loans fell slightly this week, from 2.79 percent to 2.77 percent. A year ago at this time, the 15-year average rate was 3.76.

5/1 ARM

The average on a 5-year adjustable-rate mortgage dove this week to 3.01 percent. That was down from 3.18 percent the week before and 3.84 percent last year.

“As refinance applications continue to surge and lenders work to manage capacity, the 30-year fixed-rate mortgage ticked up from last week’s all-time low,” said Sam Khater, Freddie Mac’s chief economist.

“Mortgage rates remain at extraordinary levels and many homeowners are smartly weighing their options to refinance, potentially saving themselves money.”

Week of March 5, 2020

The average 30-year fixed mortgage rank sunk to an all-time low this week, as the spreading coronavirus raises deep concerns about the domestic and global economies.

1/9 1/16 1/23 1/30 2/6 2/13 2/20 2/27 3/5 3.64% 3.07% 3.30% 3.65% 3.09% 3.39% 3.60% 3.04% 3.28% 3.51% 3.00% 3.24% 3.45% 2.97% 3.32% 3.47% 2.97% 3.28% 3.49% 2.99% 3.25% 3.45% 2.95% 3.2% 3.29% 2.79% 3.18%
30-Year Fixed

According to the latest Freddie Mac Primary Mortgage Market Survey, 30-year rates averaged 3.29 percent for the week ending March 5. That’s the lowest rate since the survey began in 1971. The week before, the 30-year rate was 3.45 percent. A year ago, it was 4.41 percent.

15-Year Fixed

The average 15-year fixed mortgage rate plummeted from 2.95 percent to 2.79 in the latest survey. A year ago at this time, the 15-year rate averaged 3.83 percent.

5/1 ARM

Rates for 5-year adjustable-rate mortgages dropped slightly from 3.20 percent to 3.18 percent. Last year’s average was 3.87 percent.

“Meanwhile, mortgage applications increased 10 percent last week from one year ago and show no signs of slowing down,” said Sam Khater, Freddie Mac’s chief economist. “Given these strong indicators in rates and sales, as well as recent increases in new construction, it’s clear the housing market continues to be a positive force for the broader economy.”

Mortgage rates have steadily declined all year. This is related to the negative economic impact of the COVID-19 coronavirus outbreak that started in December 2019.

Rates typically track the yield on the 10-year Treasury, which fell below 1 percent for the first time this week. This happened after the Federal Reserve cut its benchmark interest rate, which it did to minimize the impact of COVID-19 on the domestic economy.

Week of February 27, 2020

Mortgage rates moved back downward this week, according to the latest Freddie Mac Primary Mortgage Market Survey.

1/2 1/9 1/16 1/23 1/30 2/6 2/13 2/20 2/27 3.72% 3.16% 3.46% 3.64% 3.07% 3.30% 3.65% 3.09% 3.39% 3.60% 3.04% 3.28% 3.51% 3.00% 3.24% 3.45% 2.97% 3.32% 3.47% 2.97% 3.28% 3.49% 2.99% 3.25% 3.45% 2.95% 3.2%
30-Year Fixed

For the week ending February 27, the average 30-year fixed mortgage rate fell to 3.45 percent, from 3.49 percent the week before. A year ago it was 4.35 percent.

15-Year Fixed

The average 15-year fixed-rate stayed below 3 percent, falling from 2.99 percent to 2.95 percent. Last year’s average was 3.77 percent.

5/1 ARM

Average rates for 5-year adjustable-rate mortgages were 3.20 percent this week. That was down from 3.25 percent the week before. A year ago at this time, 5-year ARMs averaged 3.84 percent.

“Given the recent volatility of the ten-year Treasury yield, it’s not surprising that mortgage rates again have dropped,” said Sam Khater, Freddie Mac’s chief economist. “These low rates combined with high consumer confidence continue to drive home sales upward, a trend that is likely to endure as we enter spring.”

Bankrate.com listed the current 30-year fixed mortgage rate at 3.66 percent; 15-year fixed at 3.15 percent; 30-year jumbo rates at 3.7 percent; and a 5-year ARM at 3.6 percent.

Week of February 20, 2020

Mortgage rates moved a few basis points this week, according to the latest Freddie Mac Primary Mortgage Market Survey.

12/26 1/2 1/9 1/16 1/23 1/30 2/6 2/13 2/20 3.74% 3.19% 3.45% 3.72% 3.16% 3.46% 3.64% 3.07% 3.30% 3.65% 3.09% 3.39% 3.60% 3.04% 3.28% 3.51% 3.00% 3.24% 3.45% 2.97% 3.32% 3.47% 2.97% 3.28% 3.49% 2.99% 3.25%
30-Year Fixed

Average 30-year fixed rates edged up from 3.47 percent to 3.49 percent during the week ending February 20. Last year, the going rate was 4.35 percent.

15-Year Fixed

The average 15-year mortgage rate was 2.99 percent this week. That was up two basis points from 2.97 percent the week before. A year ago at this time, the 15-year rate averaged 3.78 percent.

5/1 ARM

The rate for 5-year adjustable-rate mortgages averaged 3.25 percent, down from 3.28 percent the week before and 3.84 percent the year before.

“The low mortgage rate environment continues to spur homebuying activity, with applications to purchase a home up fifteen percent from a year ago,” said Sam Khater, Freddie Mac’s chief economist.

“We’ve seen new residential construction surge over the last few months, on pace to reach the highest level in more than a decade. This is a good sign for the inventory-starved housing market and is a promising indication for the spring homebuying season.”

Bankrate.com listed the current 30-year fixed mortgage rate at 3.70 percent; 15-year fixed at 3.19 percent; 30-year jumbo rates at 3.73 percent; and a 5-year ARM at 3.66 percent.

Week of February 13, 2020

Mortgage rates moved little this week, with the 30-year fixed rate rising slightly for the first time this year.

12/19 12/26 1/2 1/9 1/16 1/23 1/30 2/6 2/13 3.73% 3.19% 3.37% 3.74% 3.19% 3.45% 3.72% 3.16% 3.46% 3.64% 3.07% 3.30% 3.65% 3.09% 3.39% 3.60% 3.04% 3.28% 3.51% 3.00% 3.24% 3.45% 2.97% 3.32% 3.47% 2.97% 3.28%
30-Year Fixed

According to the latest Freddie Mac Primary Mortgage Survey, 30-year fixed rates averaged 3.47 during the week ending February 13. The week before, the rate was 3.45 percent. Last year, it was 4.37 percent.

15-Year Fixed

The average rate for a 15-year fixed mortgage was unchanged at 2.97 percent. A year ago at this time, it was 3.81 percent.

5/1 ARM

Five-year adjustable-rate mortgages carried an average rate of 3.28 this week, down from 3.32 percent the week before. A year ago, the 5-year ARM averaged 3.88 percent.

“With mortgage rates hovering near a five-decade low, refinance application activity is once again surging, rising to the highest level in seven years,” said Sam Khater, Freddie Mac’s chief economist. “This surge coupled with strong purchase activity means that total mortgage demand remains robust, reflective of a solid economic backdrop and a very low mortgage rate environment.”

Bankrate.com listed the current 30-year fixed mortgage rate at 3.60 percent; 15-year fixed at 3.11 percent; 30-year jumbo rates at 3.61 percent; and a 5-year ARM at 3.52 percent.

Week of February 6, 2020

Fixed mortgage rates fell for the third consecutive week, according to the latest Freddie Mac Primary Mortgage Market Survey.

12/12 12/19 12/26 1/2 1/9 1/16 1/23 1/30 2/6 3.73% 3.19% 3.36% 3.73% 3.19% 3.37% 3.74% 3.19% 3.45% 3.72% 3.16% 3.46% 3.64% 3.07% 3.30% 3.65% 3.09% 3.39% 3.60% 3.04% 3.28% 3.51% 3.00% 3.24% 3.45% 2.97% 3.32%
30-Year Fixed

For the week ending February 6, the 30-year fixed-rate averaged 3.45 percent. That was down from 3.51 percent the week before. The current rate is almost a full percentage point below last year when it was 4.41 percent.

15-Year Fixed

Rates for 15-year fixed mortgages dropped to below 3 percent, to 2.97 percent for the week. A year ago at this time, the 15-year rate averaged 3.84 percent.

5/1 ARM

Five-year adjustable-rate mortgage rates rose from 3.24 percent to 3.32 percent. Last year, it was 3.91 percent. Short term disability insurance is important.

“As rates fell for the third consecutive week, markets staged a rebound with increases in manufacturing and service sector activity,” said Sam Khater, Freddie Mac’s chief economist. “The combination of very low mortgage rates, a strong economy and more positive financial market sentiment all point to home purchase demand continuing to rise over the next few months.”

Bankrate.com listed the current 30-year fixed mortgage rate at 3.64 percent; 15-year fixed at 3.15 percent; 30-year jumbo rates at 3.73 percent; and a 5-year ARM at 3.36 percent.

According to Bankrate’s latest expert survey, about half of respondents predict rates to increase over the next week. Forty percent anticipate rates to hold steady while only 10 percent think mortgage rates will fall yet again in the coming week.

Week of January 30, 2020

Mortgage rates dropped again this week to close out the first month of the new decade.

12/5 12/12 12/19 12/26 1/2 1/9 1/16 1/23 1/30 3.68% 3.14% 3.39% 3.73% 3.19% 3.36% 3.73% 3.19% 3.37% 3.74% 3.19% 3.45% 3.72% 3.16% 3.46% 3.64% 3.07% 3.30% 3.65% 3.09% 3.39% 3.60% 3.04% 3.28% 3.51% 3.00% 3.24%
30-Year Fixed

For the week ending January 30, the average 30-year fixed rate was 3.51 percent, down nine basis points from the week before. The 30-year rate has fallen 23 basis points since the beginning of the year. This week’s rate is almost a full percentage point below last year’s average of 4.46 percent.

15-Year Fixed

The average rate on 15-year fixed loans was 3 percent, down from 3.04 percent the week before. A year ago, 15-year rates averaged 3.89 percent and they were at 3.19 percent to start 2020.

5/1 ARM

Five-year adjustable-rate mortgage rates fell from 3.28 percent to 3.24 percent. A year ago at this time, the 5-year ARM averaged 3.96 percent. At the beginning of 2020, it averaged 3.45 percent.

Fixed rates have declined nearly every week so far this year, according to Freddie Mac’s weekly surveys.

Bankrate.com listed the current 30-year fixed mortgage rate at 3.66 percent; 15-year fixed at 3.16 percent; 30-year jumbo rates at 3.74 percent; and a 5-year ARM at 3.38 percent.

Week of January 23, 2020

Fixed mortgage rates dropped to a three-month low this week.

11/28 12/5 12/12 12/19 12/26 1/2 1/9 1/16 1/23 3.68% 3.15% 3.43% 3.68% 3.14% 3.39% 3.73% 3.19% 3.36% 3.73% 3.19% 3.37% 3.74% 3.19% 3.45% 3.72% 3.16% 3.46% 3.64% 3.07% 3.30% 3.65% 3.09% 3.39% 3.60% 3.04% 3.28%
30-Year Fixed

According to the latest Freddie Mac Primary Mortgage Market survey, the 30-year fixed rate averaged 3.60 percent for the week ending January 23. That was down five basis points from the week before. A year ago, 30-year rates averaged 4.45 percent.

15-Year Fixed

Rates for 15-year fixed mortgages fell from 3.09 percent to 3.04 percent this week. Last year’s 15-year rate averaged 3.88 percent.

5/1 ARM

The average rate for a 5-year adjustable rate mortgage declined from 3.39 percent to 3.28 percent. A year ago at this time, the 5-year ARM averaged 3.90 percent.

“Rates fell to the lowest level in three months and are about a quarter point above all-time lows,” said Sam Khater, Freddie Mac’s chief economist.

“The very low rate environment has clearly had an impact on the housing market as both new construction and home sales have surged in response to the decline in rates, the rebound in the economy and improving financial market sentiment.”

Bankrate.com listed the current 30-year fixed mortgage rate at 3.77 percent; 15-year fixed at 3.23 percent; 30-year jumbo rates at 3.96 percent; and a 5-year ARM at 3.42 percent.

Week of January 16, 2020

Fixed mortgage rates held steady this week, according to the latest Freddie Mac Primary Mortgage Market Survey.

11/21 11/28 12/5 12/12 12/19 12/26 1/2 1/9 1/16 3.66% 3.15% 3.39% 3.68% 3.15% 3.43% 3.68% 3.14% 3.39% 3.73% 3.19% 3.36% 3.73% 3.19% 3.37% 3.74% 3.19% 3.45% 3.72% 3.16% 3.46% 3.64% 3.07% 3.30% 3.65% 3.09% 3.39%
30-Year Fixed

Thirty-year fixed mortgage rates averaged 3.65 percent during the week ending January 16. That was up a single basis point from 3.64 percent the week before. Last year at this time, 30-year rates averaged 4.45 percent.

15-Year Fixed

The average rate on a 15-year fixed loan increased slightly from 3.07 percent to 3.09 percent. A year ago at this time, the 15-year rate averaged 3.88 percent.

5/1 ARM

The 5-year adjustable rate mortgage rate rose from 3.30 percent to 3.39 percent. Last year’s average rate was 3.87 percent.

“By all accounts, mortgage rates remain low and, along with a strong job market, are fueling the consumer-driven economy by boosting purchasing power, which will certainly support housing market activity in the coming months,” said Sam Khater, Freddie Mac’s chief economist.

“While the outlook for the housing market is positive, worsening homeowner and rental affordability due to the lack of housing supply continue to be hurdles, and they are spreading to many interior markets that have traditionally been affordable.”

Week of January 9, 2020

Mortgage rates dropped during the first full week of 2020, according to the latest Freddie Mac Primary Mortgage Market Survey.

11/14 11/21 11/28 12/5 12/12 12/19 12/26 1/2 1/9 3.75% 3.20% 3.44% 3.66% 3.15% 3.39% 3.68% 3.15% 3.43% 3.68% 3.14% 3.39% 3.73% 3.19% 3.36% 3.73% 3.19% 3.37% 3.74% 3.19% 3.45% 3.72% 3.16% 3.46% 3.64% 3.07% 3.30%
30-Year Fixed

For the week ending January 9, the average 30-year fixed rate was 3.64 percent. That was a decrease of eight basis points from the 3.72 percent average the week before. A year ago, 30-year fixed rates averaged 4.45 percent.

15-Year Fixed

Fifteen-year fixed rates averaged 3.07 percent this week, down from 3.16 percent the week before. Last year’s average 15-year rate during this week was 3.89 percent

5/1 ARM

The average rate for a 5-year adjustable rate mortgage was 3.30 percent. That marked a significant decrease from the previous week’s 3.46 percent average. Last year, the average 5-year ARM rate was 3.83 percent.

“Mortgage rates fell to the lowest level in thirteen weeks, as investors sought the quality and safety of the U.S. Treasury fixed income markets,” said Sam Khater, Freddie Mac’s chief economist.

“The drop in mortgage rates, combined with the strong labor market, should propel a continued rise in homebuyer demand.”

Week of January 2, 2020

Fixed mortgage rates dipped slightly to start the new year.

11/7 11/14 11/21 11/28 12/5 12/12 12/19 12/26 1/2 3.69% 3.13% 3.39% 3.75% 3.20% 3.44% 3.66% 3.15% 3.39% 3.68% 3.15% 3.43% 3.68% 3.14% 3.39% 3.73% 3.19% 3.36% 3.73% 3.19% 3.37% 3.74% 3.19% 3.45% 3.72% 3.16% 3.46%
30-Year Fixed

According to the latest Freddie Mac Primary Mortgage Market Survey, the average 30-year fixed rate decreased from 3.74 percent to 3.72 percent during the week ending January 2.

15-Year Fixed

Average rates on 15-year fixed mortgages fell from 3.19 percent to 3.16 percent.

5/1 ARM

For 5-year adjustable-rate mortgages, the average rate edged upward from 3.45 percent to 3.46 percent.

“The combination of improved economic data and market sentiment has led to stability in mortgage rates, which have hovered around 3.7 percent for nearly the last two months,” said Sam Khater, Freddie Mac’s chief economist.

“The stability is welcome news after the interest rate turbulence of the last year, which caused a slowdown in the housing market and other interest rate sensitive sectors. The low mortgage rate environment combined with the red-hot labor market is setting the stage for a continued rise in home sales and home prices.”

Bankrate.com listed the current 30-year fixed mortgage rate at 3.86 percent; 15-year fixed at 3.41 percent; 30-year jumbo rates at 4.04 percent; and a 5-year ARM at 3.50 percent.

Wells Fargo’s rates for the past week were 3.75 percent on a 30-year fixed, 3 percent on a 15-year fixed and 3.125 percent on a 5-year ARM.

Bank of America listed its current 30-year fixed at 3.625 percent, 20-year at 3.375 percent, and 15-year at 3 percent. Its 5-year ARM is 2.875 percent and 10-year ARM is 3.125 percent.

Week of December 26, 2019

Fixed mortgage rates remained unchanged for the second consecutive week, according to the latest Freddie Mac Primary Mortgage Market Survey.

10/31 11/7 11/14 11/21 11/28 12/5 12/12 12/19 12/26 3.78% 3.19% 3.43% 3.69% 3.13% 3.39% 3.75% 3.20% 3.44% 3.66% 3.15% 3.39% 3.68% 3.15% 3.43% 3.68% 3.14% 3.39% 3.73% 3.19% 3.36% 3.73% 3.19% 3.37% 3.74% 3.19% 3.45%
30-Year Fixed

The average 30-year fixed mortgage rate ended the week of December 26 at 3.74 percent. This is the third straight week the 30-year rate has been either 3.73 percent or 3.74 percent.

15-Year Fixed

Likewise, the 15-year average rate has remained at 3.19 percent for three weeks. At the end of 2018, the 30-year and 15-year average fixed rates were 4.55 percent and 4.01 percent, respectively.

5/1 ARM

The average rate for 5-year adjustable rate mortgages was 3.45 percent this week, up from 3.37 percent the week before. A year ago at this time, the 5-year ARM averaged 4 percent.

“Heading into 2020, low mortgage rates and the improving economy will be the major drivers of the housing market with steady increases in home sales, construction and home prices,” said Sam Khater, Freddie Mac’s chief economist.

According to Freddie Mac, the 30-year fixed rate averaged 3.9 percent in 2019. That was the fourth lowest annual average since Freddie started the weekly survey in 1971.

“While the outlook for the housing market is bright, worsening housing affordability is no longer a coastal phenomenon and is spreading to many interior markets and it is a threat to the continued recovery in housing and the economy.”

Week of December 19, 2019

Mortgage rates remained unchanged this week, according to the Freddie Mac Primary Mortgage Market Survey.

10/24 10/31 11/7 11/14 11/21 11/28 12/5 12/12 12/19 3.75% 3.18% 3.40% 3.78% 3.19% 3.43% 3.69% 3.13% 3.39% 3.75% 3.20% 3.44% 3.66% 3.15% 3.39% 3.68% 3.15% 3.43% 3.68% 3.14% 3.39% 3.73% 3.19% 3.36% 3.73% 3.19% 3.37%
30-Year Fixed

For the week ending December 19, the average 30-year fixed mortgage rate remained unchanged at 3.73. The 15-year fixe rate was unchanged at 3.19 percent.

15-Year Fixed

A year ago, average rates were 4.62 percent and 4.07 percent for the 30-year and 15-year, respectively.

5/1 ARM

The average 5-year adjustable rate mortgage rate rose a single basis point to 3.37 percent. Last year’s 5-year ARM rate was 3.98 percent.

“The economy continued to pick up momentum with a solid increase in residential construction, improvement in industrial output in our nation’s factories and a rise in job openings,” said Sam Khater, Freddie Mac’s chief economist. “While the economy is in a sweet spot, improvements in housing market sales volumes will be modest heading into next year simply due to the lack of available inventory.”

Khater continued: “The demand is clearly not being met for entry-level Millennials and trade-up Generation X home buyers. If there was more inventory of unsold homes for buyers to choose from, home sales would be rising at a faster rate.”

Week of December 12, 2019

Fixed mortgage rates moved upward about five basis points this week.

10/17 10/24 10/31 11/7 11/14 11/21 11/28 12/5 12/12 3.69% 3.15% 3.35% 3.75% 3.18% 3.40% 3.78% 3.19% 3.43% 3.69% 3.13% 3.39% 3.75% 3.20% 3.44% 3.66% 3.15% 3.39% 3.68% 3.15% 3.43% 3.68% 3.14% 3.39% 3.73% 3.19% 3.36%
30-Year Fixed

According to the latest Freddie Mac Primary Mortgage Market Survey, the average 30-year fixed rate was 3.73 percent during the week ending December 12. That was up from 3.68 percent the week before.

15-Year Fixed

The 15-year fixed rate averaged 3.19 percent this week, up from 3.14 percent the week before. At this time last year, it was 4.07 percent.

5/1 ARM

For 5-year adjustable-rate loans, the average rate this week was 3.36 percent, a decrease from 3.39 percent the week before. A year ago at this time, the 5-year ARM averaged 4.04 percent.

“With Federal Reserve policy on cruise control and the economy continuing to grow at a steady pace, mortgage rates have stabilized as the market searches for direction,” said Sam Khater, Freddie Mac’s chief economist.

The 30-year rate is 90 basis points higher than it was a year ago, when it was 4.63 percent. In early September, the 30-year rate reached a year low of 3.49 percent.

“The risk of an economic downturn has receded and, combined with the very strong job market, it should lead to a slightly higher rate environment. Often, while higher mortgage rates are deleterious, improved economic sentiment is the reason that these higher rates have not impacted mortgage demand so far.”

Week of December 5, 2019

Mortgage rates held steady this week, according to the latest Freddie Mac Primary Mortgage Market Survey.

10/10 10/17 10/24 10/31 11/7 11/14 11/21 11/28 12/5 3.57% 3.05% 3.35% 3.69% 3.15% 3.35% 3.75% 3.18% 3.40% 3.78% 3.19% 3.43% 3.69% 3.13% 3.39% 3.75% 3.20% 3.44% 3.66% 3.15% 3.39% 3.68% 3.15% 3.43% 3.68% 3.14% 3.39%
30-Year Fixed

For the week ending December 5, the average 30-year fixed rate was 3.68 percent, unchanged from the week before. Last year, the 30-year rate averaged 4.75 percent.

15-Year Fixed

The average rate for 15-year fixed mortgages was 3.14 percent, down a basis point from 3.15 percent the week before. A year ago at this time, 15-year rates averaged 4.21 percent.

5/1 ARM

Average rates for 5-year adjustable rate mortgages fells from 3.43 percent to 3.39 percent. It was 4.07 percent this time last year.

“This week the economy sent mixed signals, leaving mortgage rates unchanged,” said Sam Khater, Freddie Mac’s chief economist. “Survey data for manufacturing and service industries varied while construction spending fell modestly. However, homebuyer demand continued to improve, rising eight percent. Clearly homebuyers remain bullish on the real estate market.”

Bankrate.com listed the current 30-year fixed mortgage rate at 3.70 percent; 15-year fixed at 3.13 percent; 30-year jumbo rates at 3.92 percent; and a 5-year ARM at 3.82 percent.

Wells Fargo’s rates for the past week were 3.75 percent on a 30-year fixed and 3.5 percent on a 30-year jumbo; 3 percent on a 15-year fixed and 3.125 percent on a 15-year jumbo; 3.125 percent on a 5-year ARM and on a 7-year ARM.

Bank of America listed its current 30-year fixed at 3.625 percent, 20-year at 3.5 percent, and 15-year at 3 percent. Its 5-year ARM is 2.75 percent and 10-year ARM is 3.125 percent.

Week of November 28, 2019

Mortgage rates rose slightly during a holiday-shortened week, according to the latest Freddie Mac Primary Mortgage Market Survey.

10/3 10/10 10/17 10/24 10/31 11/7 11/14 11/21 11/28 3.65% 3.14% 3.38% 3.57% 3.05% 3.35% 3.69% 3.15% 3.35% 3.75% 3.18% 3.40% 3.78% 3.19% 3.43% 3.69% 3.13% 3.39% 3.75% 3.20% 3.44% 3.66% 3.15% 3.39% 3.68% 3.15% 3.43%
30-Year Fixed

For the week ending November 28, the average 30-year fixed mortgage rate was 3.68 percent. That was up slightly from 3.66 percent from the week before. Last year, the 30-year fixed rate averaged 4.81 percent.

15-Year Fixed

The average 15-year fixed rate remained unchanged from week-to-week at 3.15 percent. A year ago at this time, the 15-year rate averaged 4.25 percent.

5/1 ARM

The average 5-year adjustable rate mortgage rate increased from 3.39 percent to 3.43 percent this week. Last year’s average was 4.12 percent.

“Following a decline in the first nine months of 2019, mortgage rates have traded narrower during the last two months with a modest drift upward due to an improved economic outlook,” said Sam Khater, Freddie Mac’s chief economist.

“While there has been a lag in the housing market’s response to lower rates, real estate volumes have clearly shifted into a higher gear. Moreover, the recent improvement in the cyclical segments of the economy and easing financial conditions will provide a gentle tailwind to the real estate market rebound over the next few months.”

Week of November 21, 2019

After several weeks of upward movement, average mortgage rates moderated this week.

9/26 10/3 10/10 10/17 10/24 10/31 11/7 11/14 11/21 3.64% 3.16% 3.38% 3.65% 3.14% 3.38% 3.57% 3.05% 3.35% 3.69% 3.15% 3.35% 3.75% 3.18% 3.40% 3.78% 3.19% 3.43% 3.69% 3.13% 3.39% 3.75% 3.20% 3.44% 3.66% 3.15% 3.39%
30-Year Fixed

The latest Freddie Mac Primary Mortgage Market Survey showed 30-year fixed rates averaging 3.66 percent for the week ending November 21. That was nine basis points below the 3.75 percent average the week before. A year ago at this time, the 30-year rate averaged 4.81 percent, according to Freddie Mac.

15-Year Fixed

Freddie Mac reported an average 15-year fixed rate at 3.15 percent, down from 3.20 percent the week before. Last year’s average was 4.24 percent.

5/1 ARM

The typical rate for a 5-year adjustable rate mortgage dropped from 3.44 percent to 3.39 percent, according to Freddie Mac. The average was 4.09 percent last year.

At the current 30-year average, borrowers would pay $471.10 each month for every $100,000 borrowed, down from $475.11 last week.

Bankrate’s weekly survey of large lenders showed the benchmark 30-year rate at 3.89 percent, down from 3.96 percent the previous week. Bankrate said the 30-year fixed has averaged 4.22 percent for the past year.

Bankrate’s survey showed the 15-year average rate falling from 3.32 percent to 3.25 percent. Borrowers would pay $702.67 each month for every $100,000 borrowed on a typical 15-year fixed, down from $706.08 last week.

Bankrate’s survey showed 5-year ARMs averaging 3.60 percent, compared with 3.76 percent the year before. At the current 5-year ARM rate, homeowners will pay $454.65 each month for every $100,000 borrowed, down from $463.68 last week.

Week of November 14, 2019

Mortgage rates moved upward this week, marking the fourth weekly increase in the last five weeks.

9/19 9/26 10/3 10/10 10/17 10/24 10/31 11/7 11/14 3.73% 3.21% 3.49% 3.64% 3.16% 3.38% 3.65% 3.14% 3.38% 3.57% 3.05% 3.35% 3.69% 3.15% 3.35% 3.75% 3.18% 3.40% 3.78% 3.19% 3.43% 3.69% 3.13% 3.39% 3.75% 3.20% 3.44%
30-Year Fixed

According to the Freddie Mac Primary Mortgage Market Survey, the average 30-year fixed rate for the week ending November 14 was 3.75 percent. That was up six basis points from the 3.69 percent average the week before. Last year’s average for 30-year rates was 4.94 percent.

15-Year Fixed

The average rate for 15-year fixed mortgages rose from 3.13 percent to 3.20 percent. A year ago at this time, it was 4.36 percent.

5/1 ARM

Five-year adjustable-rate mortgages had an average rate of 3.44 percent this week. That was up from 3.39 percent from a week ago. Last year, 5-year ARM rates averaged 4.14 percent.

“The modest uptick in mortgage rates over the last two months reflects declining recession fears and a more sanguine outlook for the global economy,” said Sam Khater, Freddie Mac’s chief economist.

“Due to the improved economic outlook, purchase mortgage applications rose fifteen percent over the same week a year ago, the second highest weekly increase in the last two years,” said Khater.

“Given the important role residential real estate plays in the economy, the steady improvement of the housing market is a reassuring sign that the economy is on solid ground heading into next year.”

Week of November 7, 2019

After climbing for each of the past three weeks, mortgage rates dropped during the week ending November 7, according to the latest Freddie Mac Primary Mortgage Market Survey.

9/12 9/19 9/26 10/3 10/10 10/17 10/24 10/31 11/7 3.56% 3.09% 3.36% 3.73% 3.21% 3.49% 3.64% 3.16% 3.38% 3.65% 3.14% 3.38% 3.57% 3.05% 3.35% 3.69% 3.15% <