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Based on the Freddie Mac Primary Mortgage Market Survey

2021 Current Average Mortgage Rates

Filter by date:October 07, 2021
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Read details for October 07, 2021

Week of October 07, 2021

Average mortgage rates dropped slightly this week, according to the latest Freddie Mac Primary Mortgage Market Survey.

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2.99%
30-Year Fixed
After rising just above 3 percent last week, the average 30-year fixed mortgage rate fell to 2.99 percent the week ending October 7. A year ago at this time, the 30-year fixed-rate averaged 2.87 percent.
2.23%
15-Year Fixed
The average rate on a 15-year fixed mortgage declined from 2.28 percent to 2.23 percent this week. Last year’s 15-year average rate was 2.37 percent.
2.52%
5/1 ARM
The average rate on a 5-year adjustable-rate mortgage rose slightly from 2.48 percent to 2.52 percent. It averaged 2.89 percent at this time last year.
“Mortgage rates continue to hover at around three percent again this week due to rising economic and financial market uncertainties,” said Sam Khater, Freddie Mac’s chief economist. “Unfortunately, with the expectation that both mortgage rates and home prices will continue to rise, competition remains high and housing affordability is declining.”

As of October 7, Mortgage News Daily listed the average 30-year rate at 3.15 percent, the 15-year rate at 2.52 percent, and the 5-year ARM at 2.75 percent.

Bankrate listed going rates for 30-year fixed loans at 3.13 percent, 15-year fixed at 2.39 percent, and the 5-year ARM at 2.79 percent.

Week of September 30, 2021

The average 30-year fixed mortgage rate pushed above 3 percent for the first time since late June.

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3.01%
30-Year Fixed
According to the latest Freddie Mac Primary Mortgage Market Survey, the 30-year fixed-rate averaged 3.01 percent for the week ending September 30. The previous week’s average was 2.88 percent, the same as it was this time a year ago.
2.28%
15-Year Fixed
The average rate on a 15-year fixed loan jumped this week as well, from 2.15 percent last week to 2.28 percent. A year ago at this time, the average 15-year rate was 2.36 percent.
2.48%
5/1 ARM
The going rate for a 5-year adjustable-rate mortgage rose from 2.43 percent to 2.48 percent this week. It was 2.90 percent at this time last year.
“Mortgage rates rose across all loan types this week as the 10-year U.S. Treasury yield reached its highest point since June,” said Sam Khater, Freddie Mac’s chief economist. “Many factors led to this increase, including the Federal Reserve communicating that it will taper its support of the capital markets, the broadening of inflation and emerging energy supply shortages which compound other labor and materials shortages.”

Khater continued, “We expect mortgage rates to continue to rise modestly which will likely have an impact on home prices, causing them to moderate slightly after increasing over the last year.”

As of September 30, Mortgage News Daily listed the average 30-year rate at 3.15 percent, the 15-year rate at 2.59 percent, and the 5-year ARM at 2.74 percent.

Bankrate listed going rates for 30-year fixed loans at 3.18 percent, 15-year fixed at 2.45 percent, and the 5-year ARM at 2.79 percent.

Week of September 23, 2021

Mortgage rates remained flat for another week, according to the latest Freddie Mac Primary Mortgage Market Survey.

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2.88%
30-Year Fixed
For the week ending September 23, the average rate for a 30-year fixed mortgage rose just two basis points from 2.86 percent to 2.88 percent. The 30-year rate has moved very little in the last year, as it averaged 2.90 percent at this point in 2020.
2.15%
15-Year Fixed
The 15-year fixed-rate mortgage averaged 2.15 percent this week, up from 2.12 percent the week before. A year ago at this time, the 15-year rate averaged 2.40 percent.
2.43%
5/1 ARM
The average rate on a 5-year adjustable-rate mortgage dropped from 2.51 percent to 2.43 percent. It was 2.90 percent a year ago.
“The slowdown in economic growth around the world has caused a flight to the quality of the U.S. financial markets,” said Sam Khater, Freddie Mac’s chief economist. “This has led to a rise in foreign investor purchases of U.S. Treasuries, causing mortgage rates to remain in place, despite the increasing dispersion of inflation across different consumer goods and services."

As of September 23, Mortgage News Daily listed the average 30-year rate at 3.10 percent, the 15-year rate at 2.53 percent, and the 5-year ARM at 2.65 percent.

Bankrate listed going rates for 30-year fixed loans at 3.03 percent, 15-year fixed at 2.30 percent, and the 5-year ARM at 2.79 percent.

Week of September 09, 2021

Freddie Mac’s Primary Mortgage Market Survey shows that average 30-year fixed rates have moved by only two basis points in the last month.

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2.88%
30-Year Fixed
For the week ending September 9, the average 30-year fixed mortgage rate was 2.88 percent. That was up from 2.87 percent the week before. A month ago, the average was 2.86 percent, the same as it was at this time last year.
2.19%
15-Year Fixed
The average rate for 15-year fixed mortgages was 2.19 percent this week, up a single basis point from 2.18 percent the week before. A year ago at this time, the 15-year fixed-rate averaged 2.37 percent.
2.42%
5/1 ARM
The 5-year adjustable-rate mortgage averaged 2.42 percent, down slightly from 2.43 percent the previous week. Last year’s average was 3.11 percent.
“While the economy continues to grow, it has lost momentum over the last two months due to the current wave of new COVID cases that has led to weaker employment, lower spending and declining consumer confidence,” said Sam Khater, Freddie Mac’s chief economist.

“Consequently, mortgage rates dropped early this summer and have stayed steady despite increases in inflation caused by supply and demand imbalances. The net result for housing is that these low and stable rates allow consumers more time to find the homes they are looking to purchase.”

As of September 9, Mortgage News Daily listed the average 30-year rate at 2.95 percent, the 15-year rate at 2.38 percent, and the 5-year ARM at 2.75 percent.

Bankrate listed going rates for 30-year fixed loans at 3.04 percent, 15-year fixed at 2.32 percent, and the 5-year ARM at 2.80 percent.

Week of August 26, 2021

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

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2.87%
30-Year Fixed
For the week ending August 26, the average rate on a 30-year fixed mortgage was 2.87 percent. That was up a single basis point from 2.86 percent the week before, and four basis points below the 2.91 percent average of a year ago.
2.17%
15-Year Fixed
Rates on 15-year fixed mortgages averaged 2.17 percent this week, up slightly from 2.16 percent the week before. A year ago at this time, the 15-year fixed mortgage averaged 2.46 percent.
2.42%
5/1 ARM
The average rate on a 5-year adjustable-rate mortgage fell one basis point from 2.43 percent to 2.42 percent. Last year’s average was 2.91 percent.
“The tug-of-war between the economic recovery and rising COVID-19 cases has left mortgage rates moving sideways over the last few weeks,” said Sam Khater, Freddie Mac’s chief economist.

“Overall, rates continue to be low, with a window of opportunity for those who did not refinance under three percent. From a homebuyer perspective, purchase application demand is improving, but the major obstacle to higher home sales remains very low inventory for consumers to purchase.”

As of August 26, Mortgage News Daily listed the average 30-year rate at 2.98 percent, the 15-year rate at 2.41 percent, and the 5-year ARM at 2.81 percent.

Bankrate listed going rates for 30-year fixed loans at 3.03 percent, 15-year fixed at 2.33 percent, and the 5-year ARM at 2.80 percent.

Week of August 19, 2021

There was little movement in mortgage rates this week, according to the latest Freddie Mac Primary Mortgage Market Survey.

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2.86%
30-Year Fixed
The average rate on a 30-year fixed declined from 2.87 percent to 2.86 percent. It was at 2.99 percent a year ago.
2.16%
15-Year Fixed
Rates for a 15-year fixed averaged 2.16 percent, up from 2.15 percent the week before. A year ago at this time, the 15-year fixed-rate mortgage averaged 2.54 percent.
2.43%
5/1 ARM
The average on the 5-year ARM dropped from 2.44 percent to 2.43 percent and is down from 2.91 percent a year ago.
For the week ending August 19, rates on 30-year fixed, 15-year fixed, and 5-year adjustable-rate mortgages moved just a single basis point from the week before.

As of August 19, Mortgage News Daily listed the average 30-year rate at 2.93 percent, the 15-year rate at 2.38 percent, and the 5-year ARM at 2.52 percent.

Bankrate listed going rates for 30-year fixed loans at 3.02 percent, 15-year fixed at 2.31 percent, and the 5-year ARM at 2.80 percent.

Week of August 05, 2021

Mortgage rates dipped slightly this week as market uncertainty continues to keep 30-year fixed rates at the same level as where they started 2021.

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2.77%
30-Year Fixed
According to the latest Freddie Mac Primary Mortgage Market Survey, the average 30-year fixed mortgage rate was 2.77 percent for the week ending August 5. That marked a three basis-point decline from the week before and an 11 basis-point drop from this time last year.
2.10%
15-Year Fixed
The average 15-year fixed-rate stayed unchanged at 2.10 percent this week. Last year’s average was 2.44 percent.
2.40%
5/1 ARM
The average rate for a 5-year adjustable-rate mortgage fell from 2.45 percent to 2.40 percent this week, a full half-percentage point below last year’s average of 2.90 percent.
“With global market uncertainty surrounding the Delta variant of COVID-19, we saw 10-year Treasury yields drift lower and consequently mortgage rates followed suit,” said Sam Khater, chief economist at Freddie Mac.

“The 30-year fixed-rate mortgage dipped back to where it stood at the beginning of 2021, and the 15-year fixed remained at its historic low. This bodes well for those still looking to refinance, renovate or even purchase a new home.”

As of August 5, Mortgage News Daily listed the average 30-year rate at 2.85 percent, the 15-year rate at 2.28 percent, and the 5-year ARM at 2.36 percent.

Bankrate listed going rates for 30-year fixed loans at 2.96 percent, 15-year fixed at 2.26 percent, and the 5-year ARM at 2.79 percent.

Week of July 29, 2021

Mortgage rates stayed relatively flat this week, according to the latest Freddie Mac Primary Mortgage Market Survey.

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2.80%
30-Year Fixed
Freddie’s survey showed the average 30-year fixed mortgage rate at 2.80 percent for the week ending July 29. That was up two basis points from 2.78 percent the week before. The 30-year fixed-rate is still below last year’s average of 2.99 percent.
2.10%
15-Year Fixed
The average rate on a 15-year fixed mortgage dropped two basis points from 2.12 percent to 2.10 percent. A year ago at this time, the 15-year fixed-rate averaged 2.51 percent.
2.45%
5/1 ARM
The average rate for a 5-year adjustable rate mortgage was 2.45 percent this week, a 4-basis-point decline from the week before. Last year’s average was 2.94 percent.
“As the economy works to get back to its pre-pandemic self, and the fight against COVID-19 variants unfolds, owners and buyers continue to benefit from some of the lowest mortgage rates of all-time,” said Sam Khater, chief economist at Freddie Mac. “Largely due to the current environment, the 30-year fixed-rate remains below three percent for the fifth consecutive week while the 15-year fixed-rate hits another record low.”

As of July 29, Mortgage News Daily listed the average 30-year rate at 2.86 percent, the 15-year rate at 2.27 percent, and the 5-year ARM at 2.38 percent.

Bankrate listed going rates for 30-year fixed loans at 3.02 percent, 15-year fixed at 2.30 percent, and the 5-year ARM at 2.78 percent.

Week of July 22, 2021

Mortgage rates continued to trend downward this week amid ongoing concerns about the COVID-19 pandemic and its effect on the economy.

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2.78%
30-Year Fixed
According to the latest Freddie Mac Primary Mortgage Market Survey, the average 30-year fixed-rate dropped to 2.78 percent for the week ending July 22. The 30-year rate averaged 2.88 percent the week before and 3.01 percent a year ago.
2.12%
15-Year Fixed
The 15-year fixed-rate fell by the same margin during the week, from 2.22 percent to 2.12 percent. Last year’s average was 2.54 percent.
2.49%
5/1 ARM
The average rate on a 5-year adjustable rate mortgage rose slightly from 2.47 percent to 2.49 percent. A year ago at this time, the average 5-year ARM rate was 3.09 percent.
“Concerns about the Delta variant, and the overall trajectory of the pandemic, are undoubtedly affecting economic growth,” said Sam Khater, Freddie Mac’s chief economist. “While the economy continues to mend, Treasury yields have decreased, and mortgage rates have followed suit. Unfortunately, many homebuyers are unable to take advantage of low rates due to low inventory and high prices.”

Khater continued, “However, these declining rates provide yet another opportunity for homeowners to save money on their monthly mortgage payment through a refinance.”

As of July 22, Mortgage News Daily listed the average 30-year rate at 2.88 percent, the 15-year rate at 2.33 percent, and the 5-year ARM at 2.47 percent.

Bankrate listed going rates for 30-year fixed loans at 3.01 percent, 15-year fixed at 2.31 percent, and the 5-year ARM at 2.80 percent.

Week of July 15, 2021

One year ago, the average 30-year fixed rate was 2.98 percent. While experts have anticipated rates to eventually rise as high as 4 percent, average 30-year fixed rates have consistently remained below 3 percent.

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2.88%
30-Year Fixed
According to the latest Freddie Mac Primary Mortgage Market Survey, the average 30-year mortgage rate remains well below 3 percent. For the week ending July 15, the average 30-year fixed rate was 2.88 percent, down slightly from 2.90 percent the week before.
2.22%
15-Year Fixed
The 15-year fixed mortgage rate averaged 2.22 percent, two basis points above the previous week’s 2.20 percent average. A year ago at this time, the average 15-year fixed mortgage rate was 2.48 percent.
2.47%
5/1 ARM
The average on a 5-year adjustable-rate mortgage loan fell from 2.52 percent to 2.47 percent. At this time last year, it was 3.06 percent, according to Freddie Mac.
“The summer swoon in mortgage rates continues as the 30-year fixed-rate mortgage fell for the third consecutive week,” said Sam Khater, Freddie Mac’s chief economist. “Since their peak at 3.18 percent in April, mortgage rates have declined by thirty basis points. While this decline is not large, it provides modest relief to borrowers who are purchasing in a market with strong home appreciation and scant inventory.”

As of July 15, Mortgage News Daily listed the average 30-year rate at 3.04 percent, the 15-year rate at 2.5 percent, and the 5-year ARM at 2.71 percent.

Bankrate listed going rates for 30-year fixed loans at 3.04 percent, 15-year fixed at 2.38 percent, and the 5-year ARM at 2.85 percent.

Week of July 08, 2021

Average mortgage rates dropped to their lowest level in five months, according to the latest Freddie Mac Primary Mortgage Market Survey.

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2.90%
30-Year Fixed
For the week ending July 8, the average 30-year fixed mortgage rate averaged 2.90 percent. That was down from 2.98 percent the week before. The 30-year rate has hovered around 3 percent for much of the last year.
2.20%
15-Year Fixed
The average 15-year fixed mortgage rate was 2.2 percent this week, down from 2.26 percent the week before.
2.52%
5/1 ARM
The average rate on a 5-year adjustable-rate mortgage fell slightly from 2.54 percent to 2.52 percent this week.
“While mortgage rates tend to follow Treasury yields closely, other factors can be impactful such as the labor markets, which are continuing to improve per last week’s jobs report,” said Sam Khater, Freddie Mac’s chief economist.“We expect economic growth to gradually drive interest rates higher, but homebuyers and refinance borrowers still have an opportunity to take advantage of 30-year rates that are expected to continue to hover around three percent.”

This week’s decline was attributed in part to a drop in U.S. Treasury yields, an indicator of investors being less optimistic about economic growth in the near future.

As of July 8, Mortgage News Daily listed the average 30-year rate at 3.03 percent, the 15-year rate at 2.47 percent, and the 5-year ARM at 2.58 percent.

Bankrate listed going rates for 30-year fixed at 3.07 percent, 15-year fixed at 2.38 percent, and the 5-year ARM at 2.86 percent.

Week of July 01, 2021

The average 30-year fixed mortgage rate fell far enough this week to drop below 3 percent again, according to the latest Freddie Mac Primary Mortgage Market Survey.

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2.98%
30-Year Fixed
For the week ending July 1, the average 30-year rate was 2.98 percent, down from 3.02 percent the week before. Last year at this time, the average rate was 3.07 percent.
2.26%
15-Year Fixed
The rate for a 15-year fixed mortgage averaged 2.26 percent for the week. That was down eight basis points from 2.34 percent the week before. A year ago, the 15-year rate averaged 2.56 percent.
2.54%
5/1 ARM
The average rate for a 5-year adjustable-rate mortgage was 2.54 percent this week, a slight increase over 2.53 percent the week before. Last year’s average on a 5-year ARM was 3 percent.
“Economic growth remains steady and is bolstering more segments of the economy,” said Sam Khater, Freddie Mac’s chief economist. “Although low and stable mortgage rates have kept the housing market booming over recent months, a deterioration in affordability and for-sale inventory has led to a market slowdown.”

As of July 1, Mortgage News Daily listed the average 30-year rate at 3.18 percent, the 15-year rate at 2.59 percent, and the 5-year ARM at 2.28 percent.

Bankrate listed going rates for 30-year fixed at 3.13 percent, 15-year fixed at 2.43 percent, and the 5-year ARM at 3.33 percent.

Week of June 24, 2021

The average rate on a 30-year fixed mortgage rose above 3 percent for the first time in 10 weeks.

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3.02%
30-Year Fixed
According to the latest Freddie Mac Primary Mortgage Market Survey, 30-year rates averaged 3.02 percent for the week ending June 24. It was 2.93 percent the week before. The going rate remains below last year’s average of 3.13 percent.
2.34%
15-Year Fixed
The average rate on a 15-year fixed mortgage jumped from 2.24 percent to 2.34 percent. A year ago at this time, the 15-year fixed-rate averaged 2.59 percent.
2.53%
5/1 ARM
The average on a 5-year adjustable-rate mortgage edged up from 2.52 percent to 2.53 percent. Last year’s average was 3.08 percent.
“As the economy progresses and inflation remains elevated, we expect that rates will continue to gradually rise in the second half of the year,” said Sam Khater, Freddie Mac’s chief economist. “For those homeowners who have not yet refinanced – and there remain many borrowers who could benefit from doing so – now is the time.”

As of June 24, Mortgage News Daily listed the average 30-year rate at 3.20 percent, the 15-year rate at 2.62 percent, and the 5-year ARM at 2.28 percent.

Bankrate listed going rates for 30-year fixed at 3.13 percent, 15-year fixed at 2.43 percent, and the 5-year ARM at 3.30 percent.

Week of June 17, 2021

The average 30-year fixed mortgage rate dropped again this week, according to the latest Freddie Mac Primary Mortgage Market Survey.

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2.93%
30-Year Fixed
For the week ending June 17, the 30-year fixed-rate averaged 2.93 percent. That marked a decline of three basis points from 2.96 percent the week before. A year ago at this time, the 30-year rate averaged 3.13 percent.
2.24%
15-Year Fixed
The average rate on a 15-year fixed mortgage moved up a point, from 2.23 percent to 2.24 percent. The going rate was about 2.58 percent at this time last year.
2.52%
5/1 ARM
The average rate on a 5-year adjustable-rate mortgage was 2.52 percent this week. That was down from 2.55 percent the week before and 3.09 percent a year ago.
“Mortgage rates continue to drift down as markets concur with the view that inflation increases are temporary,” said Sam Khater, Freddie Mac’s chief economist. “While mortgage rates are low, purchase demand has weakened over the last couple of months, primarily due to affordability constraints stemming from high home prices. With inventory tight, the slowdown in demand has yet to impact prices, meaning the summer will likely remain a strong seller’s market.”

Other sources reported increases in mortgage rates this week.

As of June 10, Mortgage News Daily listed the average 30-year rate at 3.25 percent, the 15-year rate at 2.62 percent, and the 5-year ARM at 2.29 percent.

Bankrate listed going rates for 30-year fixed at 3.16 percent, 15-year fixed at 2.42 percent, and the 5-year ARM at 3.20 percent.

Week of June 11, 2021

Mortgage rates fell slightly this week as the average 30-year fixed-rate remained below 3 percent.

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2.96%
30-Year Fixed
According to the latest Freddie Mac Primary Mortgage Market Survey, 30-year fixed mortgage rates averaged 2.96 percent for the week ending June 10. The week before it was 2.99 percent. A year ago at this time, 30-year rates averaged 3.21 percent.
2.23%
15-Year Fixed
The average 15-year fixed-rate dropped four basis points, from 2.27 percent to 2.23 percent. Last year’s average 15-year rate was 2.62 percent.
2.55%
5/1 ARM
This week’s average rate on a 5-year adjustable-rate mortgage was 2.55 percent, down from 2.64 percent the week before. It was 3.10 percent a year ago.
“The economy is recovering remarkably fast and as pandemic restrictions continue to lift, economic growth will remain strong over the coming months,” said Sam Khater, Freddie Mac’s chief economist.

As of June 10, Mortgage News Daily listed the average 30-year rate at 3.08 percent, the 15-year rate at 2.49 percent, and the 5-year ARM at 2.25 percent.

Bankrate listed going rates for 30-year fixed at 3.08 percent, 15-year fixed at 2.36 percent, and the 5-year ARM at 3.24 percent.

“Despite the stronger economy, the housing market is experiencing a slowdown in purchase application activity due to modestly higher mortgage rates. However, it has yet to translate into a weaker home price trajectory because the shortage of inventory continues to cause pricing to remain elevated.”

Week of April 22, 2021

The average 30-year fixed mortgage rate fell below 3 percent for the first time in eight weeks.

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2.97%
30-Year Fixed

According to the latest Freddie Mac Primary Mortgage Market Survey, 30-year fixed rates averaged 2.97 percent the week ending April 22. That was a drop of seven basis points from the 3.04 percent average the week before. A year ago, the 30-year fixed average rate was 3.33 percent.

2.29%
15-Year Fixed

The average rate on a 15-year fixed mortgage was 2.29 percent this past week. That was a decline of six basis points from 2.35 percent the week before. Last year at this time, the 15-year rate averaged 2.86 percent.

2.83%
5/1 ARM

The average rate on a 5-year adjustable rate mortgage rose slightly from 2.80 percent to 2.83 percent. It averaged 3.28 percent a year ago.

“The drop in mortgage rates is good news for homeowners who are still looking to take advantage of the very low rate environment,” said Sam Khater, Freddie Mac’s chief economist.

As of April 8, Mortgage News Daily listed the average 30-year rate at 3.14 percent, the 15-year rate at 2.60 percent, and the 5-year ARM at 2.50 percent.

Bankrate listed going rates for 30-year fixed at 3.08 percent, 15-year fixed at 2.38 percent, and 5-year ARM at 3.24 percent.

Week of April 15, 2021

Mortgage rates slid downward for the second straight week, according to the latest Freddie Mac Primary Mortgage Market Survey.

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3.04%
30-Year Fixed

For the week ending April 15, the average rate on a 30-year fixed mortgage was 3.04 percent. The average fell from 3.13 percent the week before. It averaged 3.31 percent a year ago.

2.35%
15-Year Fixed

The average rate on a 15-year fixed mortgage dropped from 2.42 percent to 2.35 percent this week. Last year’s average 15-year fixed rate was 2.80 percent.

2.8%
5/1 ARM

The average rate for a 5-year adjustable-rate mortgage was 2.80 percent, down from 2.92 percent the week before and 3.34 at this point a year ago.

“The economy is improving on the demand side and on the supply side, a variety of goods and materials remain scarce. As a result of this imbalance, pricing pressures are building and causing inflation to rise,” said Sam Khater, Freddie Mac’s chief economist. “Despite the pause in mortgage rates recently, we expect them to increase modestly for the remainder of this year.”

As of April 15, Mortgage News Daily listed the average 30-year rate at 3.20 percent, the 15-year rate at 2.67 percent, and the 5-year ARM at 2.62 percent.

Bankrate listed going rates for 30-year fixed at 3.12 percent, 15-year fixed at 2.42 percent, and 5-year ARM at 3.09 percent.

Week of April 08, 2021

Average mortgage rates fell slightly this week for the first time in nearly two months.

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3.13%
30-Year Fixed

According to the latest Freddie Mac Primary Mortgage Market Survey, the average 30-year fixed rate for the week ending April 8 was 3.13 percent. It was 3.18 percent the week before and 3.33 percent at this time last year.

2.42%
15-Year Fixed

The average rate on a 15-year fixed mortgage dropped from 2.45 percent to 2.42 percent. A year ago, the 15-year rate averaged 2.77 percent.

2.92%
5/1 ARM

Five-year adjustable-rate mortgage rates averaged 2.92 percent for the week, up from 2.84 percent the week before. Last year, the average 5-year ARM rate was 3.40 percent.

“After moving up for seven consecutive weeks, mortgage rates have dropped due to the recent, modest decline of U.S. Treasury yields,” said Sam Khater, Freddie Mac’s chief economist. “The drop in rates creates yet another opportunity for those who have not refinanced to take a look at the possibility.”

As of April 8, Mortgage News Daily listed the average 30-year rate at 3.30 percent, the 15-year rate at 2.75 percent, and the 5-year ARM at 2.67 percent.

Bankrate listed going rates for 30-year fixed at 3.21 percent, 15-year fixed at 2.48 percent, and 5-year ARM at 3.07 percent.

Week of April 01, 2021

Mortgage rates held steady this week, breaking a streak of six consecutive weeks of rate increases.

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3.18%
30-Year Fixed

According to the latest Freddie Mac Primary Mortgage Market, the 30-year fixed rate averaged 3.18 percent for the week ending April 1. That was just one basis point higher than the 3.17 percent average the week before. The 30-year rate averaged 3.33 percent a year ago.

2.45%
15-Year Fixed

The average rate on a 15-year fixed mortgage remained unchanged at 2.45 percent this week. Last year’s 15-year rate averaged 2.82 percent.

2.84%
5/1 ARM

The average rate on a 5-year adjustable-rate mortgage was also unchanged for the week at 2.84 percent. A year ago at this time, the 5-year ARM averaged 3.40 percent.

“Although mortgage rates remain low, we are beginning to see a pullback by those looking to enter the housing market,” said Sam Khater, Freddie Mac’s chief economist. “In fact, homebuyer demand has gone from 25 percent above pre-COVID levels at the start of the year, when mortgage rates hit record lows, to 8 percent above pre-COVID levels today.”

As of March 18, Mortgage News Daily listed the average 30-year rate at 3.39 percent, the 15-year rate at 2.83 percent, and the 5-year ARM at 2.72 percent.

Bankrate listed going rates for 30-year fixed at 3.27 percent, 15-year fixed at 2.51 percent, and 5-year ARM at 3.08 percent.

Week of March 25, 2021

Mortgage rates jumped higher for the six consecutive week and are now half a percentage point higher than historic lows set in January.

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3.17%
30-Year Fixed

According to the latest Freddie Mac Primary Mortgage Market Survey, the average rate for a 30-year fixed mortgage was 3.17 percent for the week ending March 25. The average was 3.09 percent the week before and it was 3.50 percent at this point last year.

2.45%
15-Year Fixed

The typical rate for a 15-year fixed-rate mortgage also increased, from 2.40 percent to 2.45 percent this week. Last year, the average 15-year fixed rate was 2.92 percent.

2.84%
5/1 ARM

The average rate on a 5-year adjustable-rate mortgage rose from 2.79 percent to 2.84 percent this week. A year ago at this time, it averaged 3.34 percent.

“Since January, mortgage rates have increased half a percentage point from historic lows and home prices have risen, leaving potential homebuyers with less purchasing power,” said Sam Khater, Freddie Mac’s chief economist.

As of March 18, Mortgage News Daily listed the average 30-year rate at 3.31 percent, the 15-year rate at 2.78 percent, and the 5-year ARM at 2.72 percent.

Bankrate listed going rates for 30-year fixed at 3.23 percent, 15-year fixed at 2.47 percent, and 5-year ARM at 3.14 percent.

Week of March 18, 2021

Mortgage rates inched upward for the fifth consecutive week as the average 30-year fixed-rate reached its highest mark since June 2020.

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3.09%
30-Year Fixed

According to the latest Freddie Mac Primary Mortgage Market Survey, 30-year rates averaged 3.09 percent for the week ending March 18. That was up from 3.05 percent the week before. Last year, the 30-year rate averaged 3.65 percent.

2.4%
15-Year Fixed

The average rate for a 15-year fixed mortgage inched up from 2.38 percent to 2.40 percent this week. Last year’s average 15-year rate was 3.06 rate.

2.79%
5/1 ARM

The rate on a 5-year adjustable-rate mortgage averaged 2.79 percent this week. That was up slightly from 2.77 percent the week before. A year ago at this time, the 5-year ARM averaged 3.11 percent.

“As expected, mortgage rates continued to inch up but are still hovering around three percent, keeping interested buyers in the market,” said Sam Khater, Freddie Mac’s chief economist. “However, residential construction has declined for two consecutive months and given the very low inventory environment, competition among potential homebuyers is a challenging reality, especially for first-time homebuyers.”

As of March 18, Mortgage News Daily listed the average 30-year rate at 3.45 percent, the 15-year rate at 2.88 percent, and the 5-year ARM at 2.75 percent.

Bankrate listed going rates for 30-year fixed at 3.25 percent, 15-year fixed at 2.48 percent, and 5-year ARM at 3.12 percent.

Week of March 11, 2021

Rates on 30-year fixed mortgages rose for the fourth consecutive week, according to the latest Freddie Mac Primary Mortgage Market Survey.

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3.05%
30-Year Fixed

For the week ending March 11, the average 30-year fixed rate was 3.05 percent. That was up from 3.02 percent the week before. A month ago, 30-year rates were averaging 2.73 percent.

2.38%
15-Year Fixed

The average rate on a 15-year fixed mortgage was 2.38 percent during the week. That was an increase from 2.34 percent the week before. Fifteen-year rates have climbed from an average of 2.19 percent in the past month.

2.77%
5/1 ARM

A 5-year adjustable-rate mortgage carried an average rate of 2.77 percent in the past week. It was 2.73 percent the week before. A year ago at this time, the 5-year ARM averaged 3.01 percent.

“As the economy improves given labor market optimism, continued vaccination roll-out and additional stimulus pending, mortgage interest rates increased this week,” said Sam Khater, Freddie Mac’s chief economist.

“But even as rates rise modestly, the housing market remains healthy on the cusp of spring homebuying season. Homebuyer demand is strong and, for homeowners who have not refinanced but are looking to do so, they have not yet lost the opportunity.”

As of March 12, Mortgage News Daily listed the average 30-year rate at 3.32 percent, the 15-year rate at 2.68 percent, and the 5-year ARM at 2.65 percent.

Bankrate listed going rates for 30-year fixed at 3.23 percent, 15-year fixed at 2.49 percent, and 5-year ARM at 3.08 percent.

Week of March 04, 2021

The weekly movement on mortgage rates was mixed this week, with the 30-year fixed rate averaging more than 3 percent after several weeks below that threshold.

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3.02%
30-Year Fixed

According to the latest Freddie Mac Primary Mortgage Market Survey, the average 30-year fixed rate for the week ending March 4 was 3.02 percent. It was 2.97 percent the week before and 3.29 percent a year ago.

2.34%
15-Year Fixed

The average rate on a 15-year fixed mortgage remained unchanged at 2.34 percent. It was at 2.79 percent last year at this time.

2.73%
5/1 ARM

The average rate on a 5-year adjustable-rate mortgage dropped sharply from 2.99 percent to 2.73 percent. A year ago at this time, the 5-year ARM averaged 3.18 percent.

“Since reaching a low point in January, mortgage rates have risen by more than 30 basis points, and the impact on purchase demand has been noticeable,” said Sam Khater, Freddie Mac’s chief economist.

“While purchase activity remains high, it has cooled off over the last few weeks and is currently on par with early March, prior to the pandemic. However, the rise in mortgage rates over the next couple of months is likely to be more muted in comparison to the last few weeks, and we expect a strong spring sales season.”

As of March 4 Mortgage News Daily listed the average 30-year rate at 3.22 percent, the 15-year rate at 2.57 percent, and the 5-year ARM at 2.49 percent.

Bankrate listed going rates for 30-year fixed at 3.18 percent, 15-year fixed at 2.5 percent, and 5-year ARM at 3.01 percent.

Week of February 25, 2021

Mortgage rates rose across the board last week, according to the latest Freddie Mac Primary Mortgage Survey.

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2.97%
30-Year Fixed

For the week ending February 25, the average rate on a 30-year fixed mortgage was 2.97 percent. That was up from 2.81 percent the week before. A year ago, the average 30-year fixed rate was 3.45 percent.

2.34%
15-Year Fixed

A 15-year fixed mortgage carried an average rate of 2.34 percent last week, up from 2.21 percent the previous week. Last year, the average was 2.95 percent.

2.99%
5/1 ARM

The average rate for a 5-year adjustable-rate mortgage was 2.99 percent, a considerable increase from the 2.77 percent average the week before. A year ago at this time, the average rate on a 5-year ARM was 3.20 percent.

“Optimism continues as the economy slowly regains its footing, thus affecting mortgage rates,” said Sam Khater, Freddie Mac’s chief economist. “Though rates continue to rise, they remain near historic lows. However, when combined with demand-fueled rising home prices and low inventory, these rising rates limit how competitive a potential homebuyer can be and how much house they are able to purchase.”

As of March 1 Mortgage News Daily listed the average 30-year rate at 3.22 percent, the 15-year rate at 2.58 percent, and the 5-year ARM at 2.44 percent.

Bankrate listed going rates for 30-year fixed at 3.25 percent, 15-year fixed at 2.53 percent, and 5-year ARM at 3 percent.

Week of February 18, 2021

Average rates on a 30-year fixed mortgage rose this week to their highest level since mid-November.

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2.81%
30-Year Fixed

According to the latest Freddie Mac Primary Mortgage Market Survey, the average 30-year fixed rate was 2.81 percent for the week ending February 18. A week ago, the average 30-year rate was 2.73 percent. A year ago it was 3.49 percent.

2.21%
15-Year Fixed

The 5-year adjustable-rate mortgage market carried an average rate of 2.77 percent this week, down from 2.79 percent the week before. The average was 3.25 percent last year.

2.77%
5/1 ARM

The average rate for a 5-year adjustable-rate mortgage rose a single basis point to 2.79 percent. The average was 3.28 percent a year ago.

“Economic spending has improved, due to the most recent stimulus, but supply chain shortages are causing downstream inflation, leading to higher mortgage rates,” said Sam Khater, Freddie Mac’s chief economist. “While there are multiple temporary factors driving up rates, the underlying economic fundamentals point to rates remaining in the low 3 percent range for the year.”

As of February 18, Mortgage News Daily listed the average 30-year rate at 3.01 percent, the 15-year rate at 2.42 percent, and the 5-year ARM at 2.26 percent.

Bankrate listed going rates for 30-year fixed at 2.96 percent, 15-year fixed at 2.40 percent, and 5-year ARM at 2.94 percent.

Week of February 11, 2021

Key mortgage rates held steady for the second straight week, Freddie Mac reported in its weekly survey.

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2.73%
30-Year Fixed

For the week ending February 11, the average 30-year fixed-rate was 2.73 percent, the same as the week before. A year ago at this time, the average 30-year rate was 3.47 percent.

2.19%
15-Year Fixed

The going rate for a 15-year fixed-rate mortgage was 2.19 percent this week. That was down two basis points from the 2.21 percent average rate the week before. Last year, the average 15-year rate was 2.97 percent.

2.79%
5/1 ARM

The average rate for a 5-year adjustable-rate mortgage rose a single basis point to 2.79 percent. The average was 3.28 percent a year ago.

“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. The residential real estate market remains solid given healthy purchase demand while implied real-time home price growth is high, due to the inventory shortage that is plaguing the housing market.”

As of February 11, Mortgage News Daily listed the average 30-year rate at 2.83 percent, the 15-year rate at 2.37 percent, and the 5-year ARM at 2.25 percent.

Bankrate listed going rates for 30-year fixed at 2.82 percent, 15-year fixed at 2.33 percent, and the 5-year ARM at 2.95 percent.

Week of February 04, 2021

Mortgage rates remained flat this week compared with the previous week, according to the latest Freddie Mac Primary Mortgage Market Survey.

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2.73%
30-Year Fixed

For the week ending February 4, the 30-year fixed-rate mortgage averaged 2.73 percent, the same as the week before. It averaged 3.45 percent a year ago.

2.21%
15-Year Fixed

The average rate on a 15-year fixed mortgage rose a single basis point this week from 2.20 to 2.21 percent. Last year’s average 15-year fixed rate was 2.97 percent.

2.78%
5/1 ARM

The average rate on a 5-year adjustable-rate mortgage was 2.78 percent this week. That was down from 2.80 percent the week before. A year ago at this time, the 5-year ARM averaged 3.32 percent.

“This rate environment is advantageous for those who are looking to refinance in order to strengthen their financial position,” said Sam Khater, Freddie Mac’s chief economist. “While many have already refinanced, the evidence suggests that upper-income homeowners have taken advantage of the opportunity more so than lower-income homeowners who could stand to benefit the most by lowering their monthly mortgage payment.”

As of February 4, Mortgage News Daily listed the average 30-year rate at 2.84 percent, the 15-year rate at 2.32 percent, and the 5-year ARM at 2.25 percent.

Bankrate listed going rates for 30-year fixed at 2.84 percent, 15-year fixed at 2.33 percent, and the 5-year ARM at 2.99 percent.

Week of January 28, 2021

Mortgage rates fell slightly this week according to the latest Freddie Mac Primary Mortgage Survey.

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2.73%
30-Year Fixed

For the week ending January 28, the average rate on a 30-year fixed mortgage was 2.73 percent. That was down from 2.77 percent the week before. A year ago, the average 30-year rate was 3.51 percent.

2.2%
15-Year Fixed

The average on a 15-year fixed mortgage dropped a single basis point, from 2.21 percent to 2.20 percent. Last year’s average 15-year rate was 3 percent.

2.8%
5/1 ARM

The 5-year adjustable-rate mortgage rate averaged 2.80 percent this week, unchanged from the previous week. At this time last year, the 5-year ARM rate averaged 3.24 percent.

“As the market reacts to a new administration in Washington and COVID-19 driven economic malaise, mortgage rates continued to decrease this week, just slightly,” said Sam Khater, Freddie Mac’s chief economist.

“Even as house prices increase at the fastest rate we’ve seen in years, competition to buy is strong given the low inventory that exists across the country. The fact that there are not enough homes to meet demand is going to be an ongoing issue for the foreseeable future.”

As of January 28, Mortgage News Daily listed the average 30-year rate at 2.76 percent, the 15-year rate at 2.26 percent, and the 5-year ARM at 2.22 percent.

Bankrate listed going rates for 30-year fixed at 2.86 percent, 15-year fixed at 2.36 percent, and the 5-year ARM at 2.99 percent.

Week of January 14, 2021

A week after sinking to an all-time low, mortgage rates rose this week, according to the latest Freddie Mac Primary Mortgage Survey.

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2.79%
30-Year Fixed

For the week ending January 14, the average 30-year fixed mortgage rate was 2.79 percent. That was up sharply from 2.65 percent the week before. Last year, the average 30-year rate was 3.65 percent.

2.23%
15-Year Fixed

The 15-year fixed mortgage rate averaged 2.23 percent for the week, an increase from 2.16 percent the week before. A year ago at this time, the going rate for a 15-year fixed mortgage was 3.09 percent.

3.12%
5/1 ARM

The average rate on a 5-year adjustable-rate mortgage was 3.12 percent. It was 2.75 percent the week before and 3.39 percent at this time last year.

“As Treasury yields have risen, it is putting pressure on mortgage rates to move up,” said Sam Khater, Freddie Mac’s chief economist. “While mortgage rates are expected to increase modestly in 2021, they will remain inarguably low, supporting homebuyer demand and leading to continued refinance activity. Borrowers are smart to take advantage of these low rates now and will certainly benefit as a result.”

As of January 14, Mortgage News Daily listed the average 30-year rate at 2.88 percent, the 15-year rate at 2.38 percent, and the 5-year ARM at 2.31 percent.

Bankrate listed going rates for 30-year fixed at 2.91 percent, 15-year fixed at 2.34 percent, and the 5-year ARM at 2.89 percent.

Week of January 07, 2021

The average 30-year fixed mortgage rate began 2021 by setting a new record low.

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2.65%
30-Year Fixed

According to the latest Freddie Mac Primary Mortgage Market Survey, the 30-year rate averaged 2.65 percent during the week ending January 7, 2021. That’s the lowest rate in the survey’s history dating to 1971 and down two basis points from the week before, when it averaged 2.67 percent. A year ago at this time, the average 30-year fixed rate was 3.64 percent.

2.16%
15-Year Fixed

The average 15-year fixed mortgage rate fell slightly from 2.17 percent to 2.16 percent this week. Last year’s 15-year rate was 3.07 percent.

2.75%
5/1 ARM

The average rate on a 5-year adjustable-rate mortgage rose to 2.75 percent from 2.71 percent the week before. It averaged 3.30 percent a year ago.

“A new year, a new record low mortgage rate,” said Sam Khater, Freddie Mac’s chief economist. “Despite a full percentage point decline in rates over the past year, housing affordability has decreased because these low rates have been offset by rising home prices. However, the forces behind the drop in rates have been shifting over the last few months and rates are poised to rise modestly this year. The combination of rising mortgage rates and increasing home prices will accelerate the decline in affordability and further squeeze potential homebuyers during the spring home sales season.”

As of January 7, Mortgage News Daily listed the average 30-year rate at 2.86 percent, the 15-year rate at 2.39 percent, and the 5-year ARM at 2.39 percent.

Bankrate listed going rates for 30-year fixed at 2.89 percent, 15-year fixed at 2.34 percent, and the 5-year ARM at 2.95 percent.

Week of December 31, 2020

Fixed mortgage rates ended the year a full percentage point lower than they averaged at the end of 2019.

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2.67%
30-Year Fixed

According to the latest Freddie Mac Primary Mortgage Market Survey, the average 30-year fixed-rate rose by a single basis point for the week ending December 31 to 2.67 percent. The average was a record low 2.66 percent the week before and 3.72 percent a year ago.

2.17%
15-Year Fixed

The average rate on a 15-year fixed mortgage dropped from 2.19 percent to 2.17 percent this week. A year ago at this time, a 15-year mortgage carried an average rate of 3.16 percent.

2.71%
5/1 ARM

The average rate on a 5-year adjustable-rate mortgage fell from 2.79 percent to 2.71 percent. Last year’s end-of-year average rate on a 5-year ARM was 3.46 percent.

“All eyes have been on mortgage rates this year, especially the 30-year fixed-rate, which has dropped more than one percentage point over the last twelve months, driving housing market activity in 2020,” said Sam Khater, Freddie Mac’s chief economist. “Heading into 2021 we expect rates to remain flat, potentially rising modestly off their record low, but solid purchase demand and tight inventory will continue to put pressure on housing markets as well as house price growth.”

As of December 31, Mortgage News Daily listed the average 30-year rate at 2.77 percent, the 15-year rate at 2.32 percent, and the 5-year ARM at 2.32 percent.

Bankrate listed going rates for 30-year fixed at 2.88 percent, 15-year fixed at 2.38 percent, and the 5-year ARM at 3.01 percent.

Week of December 24, 2020

Mortgage rates fell to another all-time low heading into Christmas weekend. The Freddie Mac Primary Mortgage Market Survey reported the average 30-year fixed-rate dropped a single basis point for the week ending December 24.

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2.66%
30-Year Fixed

This week’s average 30-year rate of 2.66 percent established an all-time survey low, dating to 1971, that was previously set the week before at 2.67 percent.A year ago, the average 30-year fixed rate was more than a full percentage point higher at 3.74 percent.

2.19%
15-Year Fixed

The average rate on a 15-year fixed mortgage also fell this week, from 2.21 percent to 2.19 percent. Last year’s average 15-year rate was 3.19 percent.

2.79%
5/1 ARM

The 5-year adjustable-rate mortgage rate averaged 2.79 percent this week, unchanged from the week before. A year ago at this time, the 5-year ARM averaged 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.”

As of December 24, Mortgage News Daily listed the average 30-year rate at 2.79 percent, the 15-year rate at 2.33 percent, and the 5-year ARM at 2.28 percent.

Bankrate listed going rates for 30-year fixed at 2.92 percent, 15-year fixed at 2.38 percent, and the 5-year ARM at 3.06 percent.

Week of December 17, 2020

Mortgage rates dropped this week to a record low: Freddie Mac released its latest Primary Mortgage Market Survey showing the lowest 30-year fixed mortgage rate in the survey’s history dating to 1971

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2.67%
30-Year Fixed

For the week ending December 17, the average 30-year fixed rate was 2.67 percent, down from 2.71 percent the week before. At this time last year, the average 30-year rate was 3.73 percent.

2.21%
15-Year Fixed

The average 15-year fixed mortgage rate declined from 2.26 to 2.21 percent this week. That’s nearly a full percentage point lower than last year’s average of 3.19 percent.

2.79%
5/1 ARM

The average rate for a 5-year adjustable-rate mortgage was 2.79 percent, unchanged from the previous week. It was 3.36 percent at this time last year.

“The housing market continues to surge higher and support an otherwise stagnant economy that has lost momentum in the last couple of months,” said Sam Khater, Freddie Mac’s chief economist.

“Mortgage rates are at record lows and pushing many prospective homebuyers off the sidelines and into the market. Homebuyer sentiment is sanguine and purchase demand shows no real signs of waning at all heading into next year.”

As of December 17, Mortgage News Daily listed the average 30-year rate at 2.79 percent, the 15-year rate at 2.35 percent, and the 5-year ARM at 2.32 percent.

Bankrate listed going rates for 30-year fixed at 2.86 percent, 15-year fixed at 2.40 percent, and the 5-year ARM at 3.05 percent.

Week of December 10, 2020

There was no change in the average rate for fixed mortgages from last week to this week.

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2.71%
30-Year Fixed

According to the Freddie Mac Primary Mortgage Market Survey, the average 30-year fixed-rate remained unchanged at 2.71 percent for the week ending December 10. Last year, it was more than a full percentage point higher at 3.73 percent.

2.26%
15-Year Fixed

The average rate on a 15-year fixed mortgage stayed at 2.26 percent for the week. It averaged 3.19 percent a year ago.

2.79%
5/1 ARM

Five-year adjustable-rate mortgages ended the week with an average rate of 2.79 percent. That was down from 2.86 percent the week before and 3.36 percent a year ago at this time.

“Mortgage rates remain at record lows, resisting their typical correlation to Treasury yields, which have recently been moving higher,” said Sam Khater, Freddie Mac’s chief economist.

“Mortgage spreads – the difference between mortgage rates and the 10-year Treasury rate – are declining from their elevated levels earlier this year. Although today’s mortgage spread is about 1.8 percentage points and still has some room to move down if the 10-year Treasury continues to rise, it’s encouraging to see that the spread is almost back to normal levels.”

As of December 10, Mortgage News Daily listed the average 30-year rate at 2.80 percent, the 15-year rate at 2.37 percent, and the 5-year ARM at 2.46 percent.

Bankrate listed going rates for 30-year fixed at 2.92 percent, 15-year fixed at 2.39 percent, and the 5-year ARM at 3.01 percent.

Week of December 03, 2020

According to the latest Freddie Mac Primary Mortgage Market Survey, the average rate on a 30-year mortgage dropped a single basis point this week, setting another all-time record low.

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2.71%
30-Year Fixed

The 30-year fixed-rate averaged 2.71 percent for the week ending December 3, the lowest rate in the survey’s history dating to 1971. The 30-year rate averaged 2.72 percent the week before. It was almost a full percentage point higher a year ago, at 3.68 percent.

2.26%
15-Year Fixed

The average rate on a 15-year fixed mortgage was 2.26 percent this week. That was down from 2.28 percent the week before. A year ago at this time, it was 3.14 percent.

2.86%
5/1 ARM

The 5-year adjustable-rate mortgage average rate decreased from 3.16 percent to 2.86 percent. Last year’s 5-year ARM rate averaged 3.39 percent.

“Despite persistently low mortgage rates, home sales have hit a wall. While homebuyer appetite remains robust, the scarce inventory has effectively put a limit on how much higher sales can increase,” said Sam Khater, Freddie Mac’s chief economist. “Unfortunately, the record low supply combined with strong demand means home prices are rapidly escalating and eroding the benefits of the low mortgage rate environment.”

As of December 4, Mortgage News Daily listed the average 30-year rate at 2.82 percent, the 15-year rate at 2.38 percent, and the 5-year ARM at 2.52 percent.

Bankrate listed going rates for 30-year fixed at 2.91 percent, 15-year fixed at 2.39 percent, and the 5-year ARM at 3.02 percent.

Week of November 26, 2020

Fixed mortgage rates didn't budge heading into the Thanksgiving recess, according to Freddie Mac.

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2.72%
30-Year Fixed

For the week ending November 26, the average rate on a 30-year fixed-rate mortgage stayed put at 2.72 percent, the same all-time low mark as the previous week.

2.28%
15-Year Fixed

The rate on a 15-year fixed mortgage didn't move either, sticking at 2.28 percent for the second week in a row.

3.16%
5/1 ARM

There was movement on 5-year adjustable-rate mortgage rates though, as the average increased from 2.85 percent to 3.16 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 million borrowers eligible to refinance, lower- and middle-income borrowers are leaving money on the table by not taking advantage of low rates.

Week of November 19, 2020

Mortgage rates set a record low for the 13th time this year this past week, according to the latest Freddie Mac Primary Mortgage Market Survey.

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2.72%
30-Year Fixed

For the week ending November 19, the average rate on a 30-year fixed-rate mortgage fell to 2.72 percent, an all-time low according to Freddie Mac. The average 30-year rate was 2.84 percent the week before. It was nearly a full percentage point higher last year at 3.66 percent.

2.28%
15-Year Fixed

The rate on a 15-year fixed mortgage averaged 2.28 percent this week, down from 2.34 percent the week before. A year ago at this time, a 15-year fixed mortgage rate averaged 3.15 percent.

2.85%
5/1 ARM

The average rate on a 5-year adjustable-rate mortgage plummeted this week to 2.85 percent. It averaged 3.11 percent the previous week and 3.39 percent last year at this time.

“Weaker consumer spending data, which accounts for the majority of economic growth, drove mortgage rates to a new record low,” said Sam Khater, Freddie Mac’s chief economist. “While economic growth remains unstable, strong housing demand continues to have a domino effect on many other segments of the economy.”

As of November 19, Mortgage News Daily listed the average 30-year rate at 2.87 percent, the 15-year rate at 2.40 percent, and the 5-year ARM at 2.68 percent.

Bankrate listed going rates for 30-year fixed at 2.96 percent, 15-year fixed at 2.47 percent, and the 5-year ARM at 3.03 percent.

Week of November 12, 2020

Positive news about a possible COVID-19 vaccine helped boost mortgage rates this week, according to the latest Freddie Mac Primary Mortgage Survey.

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2.84%
30-Year Fixed

For the week ending November 12, the average 30-year fixed rate was 2.84 percent. That was up from 2.78 percent the week before. The average 30-year rate was 3.75 percent a year ago.

2.34%
15-Year Fixed

The average 15-year fixed rate rose two basis points, from 2.32 percent to 2.34 percent. A year ago at this time, the 15-year fixed-rate averaged 3.20 percent.

3.11%
5/1 ARM

The going rate on a 5-year adjustable-rate mortgage jumped to 3.11 percent this week. Last week, it averaged 2.89 percent. It was 3.44 percent at this time last year.

Positive economic news tends to cause mortgage rates and Treasury yields to rise. Mortgage rates also typically remain higher than Treasury yields, which often increase amid positive economic news.

As of November 12, Mortgage News Daily listed the average 30-year rate at 2.98 percent, the 15-year rate at 2.45 percent, and the 5-year ARM at 2.75 percent.

Bankrate listed going rates for 30-year fixed at 3.02 percent, 15-year fixed at 2.50 percent, and the 5-year ARM at 3.04 percent.

Week of November 05, 2020

Mortgage rates remained mostly steady this week, but the average 30-year fixed-rate fell enough to sell another all-time low.

10/1510/2210/2911/5
2.78%
30-Year Fixed

According to the latest Freddie Mac Primary Mortgage Market Survey, the 30-year fixed-rate mortgage averaged 2.78 percent for the week ending November 5. That’s the lowest rate in the survey’s history dating to 1971. The average 30-year rate was 2.81 percent the week before. It was 3.69 percent at this time last year.

2.32%
15-Year Fixed

According to the Freddie Mac survey, the average 15-year mortgage rate remained unchanged at 2.32 percent this week. A year ago at this time, the 15-year rate averaged 3.13 percent.

2.89%
5/1 ARM

The 5-year adjustable-rate mortgage had an average rate of 2.89 percent this week. That was up slightly from 2.88 percent the week before. The going rate was 3.39 percent a year ago.

“Mortgage rates hit another record low, the 12th time this year, due to economic and political ambiguity,” said Sam Khater, Freddie Mac’s chief economist. “Despite the uncertainty that we’ve all experienced this year, the housing market, buoyed by low rates, continues to be a bright spot.”

As of November 5, Mortgage News Daily listed the average 30-year rate at 2.88 percent, the 15-year rate at 2.38 percent, and the 5-year ARM at 2.71 percent.

Bankrate listed going rates for 30-year fixed at 3.07 percent, 15-year fixed at 2.63 percent, and the 5-year ARM at 3.03 percent.

Week of October 29, 2020

Mortgage rates barely moved this week after setting an all-time low the week before.

10/1510/2210/29
2.81%
30-Year Fixed

According to the latest Freddie Mac Primary Mortgage Market Survey, the average 30-year rate for the week ending October 29 was 2.81 percent. That was up a single basis point from the week before.

2.32%
15-Year Fixed

The average rate on a 15-year fixed mortgage dropped a single basis point from 2.33 percent to 2.32 percent this week. The 15-year rate stood at 3.19 percent a year ago.

2.88%
5/1 ARM

The average rate on a 5-year adjustable-rate mortgage declined from 2.88 percent to 2.87 percent. A year ago at this time, the 5-year ARM averaged 3.43 percent.

“On the refinance front, many consumers are smartly taking advantage of the ability to lower their monthly payment, which means they can spend, save or pay down debt more so than they have in the past,” said Sam Khater, Freddie Mac’s chief economist.

Last year at this time, the average 30-year rate was 3.78 percent, almost a full percentage point higher. To put that in perspective, a $200,000, 30-year mortgage at last year’s higher rate would lead to a monthly principal and interest payment of about $930. At today’s lower rate the monthly payment would be about $823.

As of October 29, Mortgage News Daily listed the average 30-year rate at 2.99 percent, the 15-year rate at 2.55 percent, and the 5-year ARM at 2.73 percent.

Bankrate listed going rates for 30-year fixed at 3.01 percent, 15-year fixed at 2.58 percent, and the 5-year ARM at 3.04 percent.

Week of October 22, 2020

Mortgage rates edged down again this week to set another all-time low.

10/1510/22
2.8%
30-Year Fixed

According to the latest Freddie Mac Primary Mortgage Market Survey, the average 30-year fixed rate was 2.80 percent for the week ending October 22. That’s the lowest 30-year average in the nearly 50-year history of the survey. The average 30-year rate fell just slightly from 2.81 percent the week before. A year ago at this time, it was nearly a full percentage point higher at 3.75 percent.

2.33%
15-Year Fixed

The 15-year fixed-rate average also experienced a minimal decline this week, from 2.35 percent to 2.33 percent. It was 3.18 percent a year ago.

2.87%
5/1 ARM

The going rate on a 5-year adjustable-rate mortgage was 2.87 percent for the week, down from 2.90 percent a week ago. Last year’s average rate on a 5-year ARM was 3.40 percent.

“Mortgage rates remain very low, providing homeowners who have not already taken advantage of this environment ample opportunity to do so,” said Sam Khater, Freddie Mac’s chief economist.

“Mortgage rates today are on average more than a full percentage point lower than rates over the last five years. This means that most low- and moderate-income borrowers who purchased during the last few years stand to benefit by exploring refinancing to lower their monthly payment.”

As of October 22, Mortgage News Daily listed the average 30-year rate at 3.04 percent, the 15-year rate at 2.57 percent, and the 5-year ARM at 2.79 percent.

Bankrate listed going rates for 30-year fixed at 3.03 percent, 15-year fixed at 2.56 percent, and the 5-year ARM at 3.06 percent.

Week of October 15, 2020

The average 30-year mortgage rate fell to another all-time low, according to the latest Freddie Mac Primary Mortgage Market Survey.

10/15
2.81%
30-Year Fixed

For the week ending October 15, a 30-year fixed-rate mortgage carried an average rate of 2.81 percent. That represented the lowest average since the survey began in 1971. The 30-year rate was 2.87 percent the week before and 3.69 percent a year ago.

2.35%
15-Year Fixed

The average rate on a 15-year fixed mortgage declined to 2.35 percent this week. It was 2.37 percent the week before and 3.15 percent a year ago.

2.9%
5/1 ARM

For a 5-year adjustable-rate mortgage, the going rate averaged 2.90 percent for the week, up slightly from 2.89 percent the week before. It was 3.35 percent a year ago at this time.

“Low mortgage rates have become a regular occurrence in the current environment,” said Sam Khater, Freddie Mac’s chief economist.

“As we hit yet another record low, the tenth record this year, many people are benefitting as refinance activity remains strong. However, it’s important to remember that not all people are able to take advantage of low rates given the effects of the pandemic.”

As of October 16, Mortgage News Daily listed the average 30-year rate at 3.00 percent, the 15-year rate at 2.44 percent, and the 5-year ARM at 2.78 percent.

Bankrate listed going rates for 30-year fixed at 3.02 percent, 15-year fixed at 2.54 percent, and the 5-year ARM at 3.08 percent.

Week of October 08, 2020

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

2.87%
30-Year Fixed

For the week ending October 8, the average 30-year fixed rate was 2.87 percent. That was down a single basis point from the 2.88 percent average the week before. A year ago, the going rate for a 30-year fixed mortgage was 3.57 percent.

2.37%
15-Year Fixed

This week’s average for a 15-year fixed-rate mortgage rose one basis point, from 2.36 percent to 2.37 percent. Last year, the average 15-year rate was 3.05 percent.

2.89%
5/1 ARM

The average rate this week for a 5-year adjustable-rate mortgage was 2.89 percent. That was a slight decline from 2.90 percent the week before. A year ago at this time, the five-year ARM averaged 3.35 percent.

“The year-long slide in mortgage rates seems to be ending as rates have flattened over the last month and the economic rebound has slowed,” said Sam Khater, Freddie Mac’s chief economist.

“But with near record low rates, buyer demand remains robust with strong first-time buyers coming into the market. The demand is particularly strong in more affordable regions of the country such as the Midwest, where home prices are accelerating at the highest rates over the last two decades.”

As of October 8, Mortgage News Daily listed the average 30-year rate at 3.01 percent, the 15-year rate at 2.41 percent, and the 5-year ARM at 2.79 percent.

Bankrate listed going rates for 30-year fixed at 3.05 percent, 15-year fixed at 2.56 percent, and the 5-year ARM at 3.09 percent.

About the author

Jack Wolstenholm

Jack is the Head of Content Marketing at LeverageRx, the personal finance company that simplifies how healthcare professionals shop for financial products and services. A Creighton University graduate and former advertising creative, he has written extensively about topics in personal finance, work-life, employee benefits, and technology. His work has been featured in MSN, Benzinga, TMCNet, StartupNation, Council for Disability Awareness, and more.

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