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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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.

9/24 10/1 10/8 10/15 10/22 10/29 11/5 11/12 11/19 2.9% 2.4% 2.9% 2.88% 2.36% 2.9% 2.87% 2.37% 2.89% 2.81% 2.35% 2.9% 2.8% 2.33% 2.87% 2.81% 2.32% 2.88% 2.78% 2.32% 2.89% 2.84% 2.34% 3.11% 2.72% 2.28% 2.85%
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.

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.

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.

9/17 9/24 10/1 10/8 10/15 10/22 10/29 11/5 11/12 2.87% 2.35% 2.96% 2.9% 2.4% 2.9% 2.88% 2.36% 2.9% 2.87% 2.37% 2.89% 2.81% 2.35% 2.9% 2.8% 2.33% 2.87% 2.81% 2.32% 2.88% 2.78% 2.32% 2.89% 2.84% 2.34% 3.11%
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.

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.

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 5, 2020

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

9/10 9/17 9/24 10/1 10/8 10/15 10/22 10/29 11/5 2.86% 2.37% 3.11% 2.87% 2.35% 2.96% 2.9% 2.4% 2.9% 2.88% 2.36% 2.9% 2.87% 2.37% 2.89% 2.81% 2.35% 2.9% 2.8% 2.33% 2.87% 2.81% 2.32% 2.88% 2.78% 2.32% 2.89%
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.

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.

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.

9/3 9/10 9/17 9/24 10/1 10/8 10/15 10/22 10/29 2.93% 2.42% 2.93% 2.86% 2.37% 3.11% 2.87% 2.35% 2.96% 2.9% 2.4% 2.9% 2.88% 2.36% 2.9% 2.87% 2.37% 2.89% 2.81% 2.35% 2.9% 2.8% 2.33% 2.87% 2.81% 2.32% 2.88%
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.

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.

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.

8/27 9/3 9/10 9/17 9/24 10/1 10/8 10/15 10/22 2.91% 2.46% 2.91% 2.93% 2.42% 2.93% 2.86% 2.37% 3.11% 2.87% 2.35% 2.96% 2.9% 2.4% 2.9% 2.88% 2.36% 2.9% 2.87% 2.37% 2.89% 2.81% 2.35% 2.9% 2.8% 2.33% 2.87%
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.

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.

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.

8/20 8/27 9/3 9/10 9/17 9/24 10/1 10/8 10/15 2.99% 2.54% 2.91% 2.91% 2.46% 2.91% 2.93% 2.42% 2.93% 2.86% 2.37% 3.11% 2.87% 2.35% 2.96% 2.9% 2.4% 2.9% 2.88% 2.36% 2.9% 2.87% 2.37% 2.89% 2.81% 2.35% 2.9%
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.

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.

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 8, 2020

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

8/13 8/20 8/27 9/3 9/10 9/17 9/24 10/1 10/8 2.96% 2.46% 2.9% 2.99% 2.54% 2.91% 2.91% 2.46% 2.91% 2.93% 2.42% 2.93% 2.86% 2.37% 3.11% 2.87% 2.35% 2.96% 2.9% 2.4% 2.9% 2.88% 2.36% 2.9% 2.87% 2.37% 2.89%
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.

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.

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.

Week of October 1, 2020

Mortgage rates dipped slightly this week, continuing a trend that has kept 30-year rates under three percent since mid-summer.

8/6 8/13 8/20 8/27 9/3 9/10 9/17 9/24 10/1 2.88% 2.44% 2.9% 2.96% 2.46% 2.9% 2.99% 2.54% 2.91% 2.91% 2.46% 2.91% 2.93% 2.42% 2.93% 2.86% 2.37% 3.11% 2.87% 2.35% 2.96% 2.9% 2.4% 2.9% 2.88% 2.36% 2.9%
30-Year Fixed

According to the latest Freddie Mac Primary Mortgage Market Survey, the average 30-year fixed rate was 2.88 percent for the week ending October 1. That was down slightly from 2.90 percent the week before. Last year, the average 30-year rate was 3.65 percent.

15-Year Fixed

The average rate on a 15-year fixed mortgage also fell for the week, from 2.40 percent to 2.36 percent. It was 3.14 percent last year at this time.

5/1 ARM

The 5-year adjustable-rate mortgage average rate remained unchanged for the week at 2.90, according to Freddie Mac. A year ago at this time, it was 3.38 percent.

“As a result of low mortgage rates that have stayed under three percent since July, the housing market has seen a strong, upward trajectory during a very uncertain time,” said Sam Khater, Freddie Mac’s chief economist.

“We’re seeing potential home buyers who now have more purchasing power and many current homeowners who have the option to refinance their loan for a better rate. However, several factors could disrupt this activity including high home prices, low inventory and lender capacity.”

As of October 2, Mortgage News Daily listed the average 30-year rate at 3.04 percent, the 15-year rate at 2.62 percent, and the 5-year ARM at 2.77 percent.

Bankrate listed going rates for 30-year fixed at 3.08 percent, 15-year fixed at 2.59 percent, and the 5-year ARM at 3.10 percent.

Week of September 24, 2020

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

7/30 8/6 8/13 8/20 8/27 9/3 9/10 9/17 9/24 2.99% 2.51% 2.94% 2.88% 2.44% 2.9% 2.96% 2.46% 2.9% 2.99% 2.54% 2.91% 2.91% 2.46% 2.91% 2.93% 2.42% 2.93% 2.86% 2.37% 3.11% 2.87% 2.35% 2.96% 2.9% 2.4% 2.9%
30-Year Fixed

For the week ending September 24, a 30-year fixed mortgage carried an average rate of 2.90 percent. That was up from 2.87 percent the week before. Last year, the 30-year rate averaged 3.64 percent.

15-Year Fixed

The average rate on a 15-year fixed mortgage rose to 2.40 percent this week. It was 2.35 percent the week before and 3.16 percent last year.

5/1 ARM

For a 5-year adjustable-rate mortgage, the average rate dropped from 2.96 percent to 2.90 percent this week. A year ago at this time, the average rate was 3.38 percent.

“Mortgage rates set several record lows over the last few months and have remained low into September,” said Sam Khater, Freddie Mac’s chief economist. “While there is room for rates to decrease even more, higher home prices and low inventory could potentially stifle the high demand that we’ve been seeing.”

As of September 24, Mortgage News Daily listed the average 30-year rate at 3.02 percent, the 15-year rate at 2.64 percent, and the 5-year ARM at 2.75 percent.

Bankrate listed going rates for 30-year fixed at 3.01 percent, 15-year fixed at 2.48 percent, and the 5-year ARM at 2.89 percent.

Week of September 17, 2020

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

7/23 7/30 8/6 8/13 8/20 8/27 9/3 9/10 9/17 3.01% 2.54% 3.09% 2.99% 2.51% 2.94% 2.88% 2.44% 2.9% 2.96% 2.46% 2.9% 2.99% 2.54% 2.91% 2.91% 2.46% 2.91% 2.93% 2.42% 2.93% 2.86% 2.37% 3.11% 2.87% 2.35% 2.96%
30-Year Fixed

For the week ending September 17, the average 30-year fixed mortgage rate inched up a single basis point from 2.86 percent from the previous week to 2.87 percent. Last year, it averaged 3.73 percent.

15-Year Fixed

The average 15-year fixed-rate dropped two basis points, from 2.37 percent to 2.35 percent. A year ago at this time, 15-year fixed rates averaged 3.21 percent.

5/1 ARM

The average rate on a 5-year adjustable-rate mortgage dropped to 2.96 percent this week. It was 3.11 percent the previous week and 3.49 percent at this time a year ago.

“Despite the recession, the very low mortgage environment has spurred many first-time homebuyers to jump into the real estate market,” said Sam Khater, Freddie Mac’s chief economist.

“In August, first-time homebuyer activity rose 19 percent from July to the highest monthly level ever for Freddie Mac. The first-time homebuyer driven rebound in the housing market has come at a critical time for the economy.”

As of September 17, Mortgage News Daily listed the average 30-year rate at 3.04 percent, the 15-year rate at 2.55 percent, and the 5-year ARM at 2.79 percent.

Bankrate listed going rates for 30-year fixed at 3.01 percent, 15-year fixed at 2.48 percent, and the 5-year ARM at 3.05 percent.

Week of September 10, 2020

The cost of borrowing money for a home continues to get more affordable as 30-year fixed mortgage rates hit another record low this week.

7/16 7/23 7/30 8/6 8/13 8/20 8/27 9/3 9/10 2.98% 2.48% 3.06% 3.01% 2.54% 3.09% 2.99% 2.51% 2.94% 2.88% 2.44% 2.9% 2.96% 2.46% 2.9% 2.99% 2.54% 2.91% 2.91% 2.46% 2.91% 2.93% 2.42% 2.93% 2.86% 2.37% 3.11%
30-Year Fixed

The latest Freddie Mac Primary Mortgage Market Survey showed the average 30-year rate was 2.86 percent the week ending September 10. According to Freddie, that’s the lowest rate in the survey’s history dating to 1971. The 30-year fixed-rate averaged 2.93 percent the week before and was at 3.56 percent a year ago.

15-Year Fixed

Rates on 15-year fixed mortgages declined as well this week. The average for this week was 2.37 percent, down from 2.42 percent the week before. A year ago at this time, 15-year mortgage rates averaged 3.09 percent.

5/1 ARM

On the other hand, rates on a 5-year adjustable-rate mortgage jumped considerably this week, from 2.93 percent to 3.11 percent. Last year, the 5-year ARM average was 3.36 percent.

“Mortgage rates have hit another record low due to a late-summer slowdown in the economic recovery,” said Sam Khater, Freddie Mac’s chief economist. It’s the ninth time this year that the 30-year rate has fallen to a record low.

“These low rates have ignited robust purchase demand activity, which is up 25 percent from a year ago and has been growing at double-digit rates for four consecutive months. However, heading into the fall it will be difficult to sustain the growth momentum in purchases because the lack of supply is already exhibiting a constraint on sales activity.”

Week of September 3, 2020

Mortgage rates moved only slightly this week, according to thelatest Freddie Mac Primary Mortgage Market Survey.

7/9 7/16 7/23 7/30 8/6 8/13 8/20 8/27 9/3 3.03% 2.51% 3.02% 2.98% 2.48% 3.06% 3.01% 2.54% 3.09% 2.99% 2.51% 2.94% 2.88% 2.44% 2.9% 2.96% 2.46% 2.9% 2.99% 2.54% 2.91% 2.91% 2.46% 2.91% 2.93% 2.42% 2.93%
30-Year Fixed

For the week ending September 3, the 30-year fixed rate rose two basis points, from 2.91 percent to 2.93 percent. Last year, it averaged 3.49 percent.

15-Year Fixed

The average rate for a 15-year fixed mortgage dropped a little to 2.42 percent. It was 2.46 percent the week before. A year ago at this time, the 15-year rate averaged 3 percent.

5/1 ARM

The average rate on a 5-year adjustable-rate mortgage increased to 2.93 percent from 2.91 percent the week before. It was 3.30 percent a year ago at this time.

“Mortgage rates have remained effectively flat or at near record lows for the last month,” said Sam Khater, Freddie Mac’s chief economist.

“However, there are some interesting compositional shifts as the 10-year Treasury rate has increased modestly over the past month while mortgage spreads have declined. Spreads may decline even further but the rise in Treasury rates will make it difficult for mortgage rates to fall much more over the next few weeks.”

As of September 4, Mortgage News Daily listed the average 30-year rate at 2.86 percent, the 15-year rate at 2.40 percent, and the 5-year ARM at 2.81 percent.

Bankrate listed going rates for 30-year fixed at 3.07 percent and 15-year fixed at 2.54 percent.

Week of August 27, 2020

Mortgage rates continued their 2020 roller coaster with another sizable drop this week.

7/2 7/9 7/16 7/23 7/30 8/6 8/13 8/20 8/27 3.07% 2.56% 3% 3.03% 2.51% 3.02% 2.98% 2.48% 3.06% 3.01% 2.54% 3.09% 2.99% 2.51% 2.94% 2.88% 2.44% 2.9% 2.96% 2.46% 2.9% 2.99% 2.54% 2.91% 2.91% 2.46% 2.91%
30-Year Fixed

For the week ending August 27, the average 30-year rate was 2.91 percent. That was down from 2.99 percent the week before. A year ago, the 30-year rate averaged 3.58 percent.

15-Year Fixed

The weekly Freddie Mac Primary Mortgage Market Survey also showed the 15-year fixed rate averaging 2.46 percent, a drop from 2.54 percent the week before. Last year’s average was 3.06 percent.

5/1 ARM

The average rate on a 5-year adjustable-rate mortgage remained unchanged this week at 2.91 percent. A year ago at this time, the 5-year ARM average was 3.31 percent.

“This year has been anything but normal and as the uncertainty lingers, mortgage rates remain near record lows,” said Sam Khater, Freddie Mac’s chief economist. “These rates continue to incentivize potential buyers and the home-buying season, which shifted from spring to summer, will likely continue into the fall.”

As of August 28, Mortgage News Daily listed the average 30-year rate at 2.95 percent, the 15-year rate at 2.51 percent, and the 5-year ARM at 3.05 percent.

Bankrate listed going rates for 30-year fixed at 3.12 percent, 15-year fixed at 2.60 percent, and the 5-year ARM at 3.36 percent.

Week of August 20, 2020

After sinking to an all-time low in early August, mortgage rates rose slightly for the second consecutive week.

6/25 7/2 7/9 7/16 7/23 7/30 8/6 8/13 8/20 3.13% 2.59% 3.08% 3.07% 2.56% 3% 3.03% 2.51% 3.02% 2.98% 2.48% 3.06% 3.01% 2.54% 3.09% 2.99% 2.51% 2.94% 2.88% 2.44% 2.9% 2.96% 2.46% 2.9% 2.99% 2.54% 2.91%
30-Year Fixed

According to the latest Freddie Mac Primary Mortgage Market Survey, the 30-year fixed-rate averaged 2.99 percent for the week ending August 20. That was up from 2.96 percent the week before and 11 basis points above the all-time low of 2.88 percent set the week of August 7. The 30-year rate stood at 3.55 percent a year ago.

15-Year Fixed

The latest 15-year rate average was 2.54 percent, according to Freddie Mac. It was 2.46 percent the week before and 2.44 percent the first week of August when it reached its all-time low. The average 15-year fixed rate was 3.05 last year at this time.

5/1 ARM

The average rate for a 5-year adjustable-rate mortgage inched higher by a single basis point this week, from 2.90 percent to 2.91 percent. A year ago at this time, the 5-year ARM averaged 3.32 percent.

Bankrate listed going rates for 30-year fixed at 3.06 percent, 15-year fixed at 2.64 percent, and the 5-year ARM at 3.36 percent.

As of August 20, Mortgage News Daily listed the average 30-year rate at 3.06 percent, the 15-year rate at 2.54 percent, and the 5-year ARM at 3.05 percent.

Week of August 13, 2020

Fixed mortgage rates edged slightly upward last week.

6/18 6/25 7/2 7/9 7/16 7/23 7/30 8/6 8/13 3.13% 2.58% 3.09% 3.13% 2.59% 3.08% 3.07% 2.56% 3% 3.03% 2.51% 3.02% 2.98% 2.48% 3.06% 3.01% 2.54% 3.09% 2.99% 2.51% 2.94% 2.88% 2.44% 2.9% 2.96% 2.46% 2.9%
30-Year Fixed

According to the latest Freddie Mac Primary Mortgage Market Survey, the 30-year fixed-rate averaged 2.96 percent for the week ending August 13. The week before, the average 30-year rate was 2.88 percent. A year ago, it was 3.60 percent.

15-Year Fixed

The average 15-year fixed-rate increased from 2.44 percent to 2.46 percent. Last year, the 15-year fixed-rate averaged 3.07 percent.

5/1 ARM

The rate on a 5-year adjustable-rate mortgage remained unchanged at 2.90 percent. It was 3.35 percent a year ago.

“Homebuyer demand remains strong, especially for those in search of an entry-level home where the improvement in affordability via lower mortgage rates has a material impact,” said Sam Khater, Freddie Mac’s chief economist.

“Even with this week’s uptick, very low rates are providing a significant boost to the housing market that continues to hold up well during this time of uncertainty.”

Bankrate listed going rates for 30-year fixed at 3.14 percent, 15-year fixed at 2.66 percent, and the 5-year ARM at 3.37 percent.

Week of August 6, 2020

Mortgage rates took another steep drop this week as Freddie Mac’s weekly survey hit an all-time low for the eighth time this year.

6/11 6/18 6/25 7/2 7/9 7/16 7/23 7/30 8/6 3.21% 2.62% 3.1% 3.13% 2.58% 3.09% 3.13% 2.59% 3.08% 3.07% 2.56% 3% 3.03% 2.51% 3.02% 2.98% 2.48% 3.06% 3.01% 2.54% 3.09% 2.99% 2.51% 2.94% 2.88% 2.44% 2.9%
30-Year Fixed

According to the company’s Primary Mortgage Market Survey for the week ending August 6, the average rate on a 30-year fixed mortgage was 2.88 percent. That marked an 11-basis point decrease from 2.99 percent the week before. Last year, the 30-year rate averaged 3.60 percent.

15-Year Fixed

The average rate on a 15-year fixed mortgage fell to 2.44 percent from 2.51 percent the week before. Last year, a 15-year mortgage rate averaged 3.05 percent.

5/1 ARM

Rates for a 5-year adjustable-rate mortgage averaged 2.90 percent for the week. That was a decline from 2.94 percent the week before. The average 5-year ARM rate a year ago was 3.36 percent.

“The resilience of the housing market continues as mortgage rates hit another all-time low, giving potential buyers more purchasing power and strengthening demand,” said Sam Khater, Freddie Mac’s chief economist.

“We expect rates to stay low and continue to propel the purchase market forward. However, the main barrier to rising demand remains the lack of inventory, especially for entry-level homes.”

Week of July 30, 2020

Mortgage rates dropped slightly this week to remain near historic lows.

6/4 6/11 6/18 6/25 7/2 7/9 7/16 7/23 7/30 3.18% 2.62% 3.1% 3.21% 2.62% 3.1% 3.13% 2.58% 3.09% 3.13% 2.59% 3.08% 3.07% 2.56% 3% 3.03% 2.51% 3.02% 2.98% 2.48% 3.06% 3.01% 2.54% 3.09% 2.99% 2.51% 2.94%
30-Year Fixed

According to the latest Freddie Mac Primary Mortgage Market Survey, the average rate on a 30-year fixed mortgage was 2.99 percent for the week ending July 30. That represented a two basis point reduction from 3.01 percent the week before. A year ago, the 30-year fixed rate was 3.75 percent.

15-Year Fixed

The average rate on a 15-year fixed rate declined three basis points this week, from 2.54 percent to 2.51 percent. Last year the 15-year fixed rate was 3.75 percent.

5/1 ARM

Typical rates on a 5-year adjustable-rate mortgage were 2.94 percent, down from 3.09 percent the week before and 3.46 percent last year.

“Real estate is one of the bright spots in the economy, with strong demand and modest slowdown in home prices heading into the late summer,” said Sam Khater, Freddie Mac’s chief economist. “Home sales should remain strong the next few months into the early fall.”

On the same days as Freddie Mac’s survey, Bankrate listed the going 30-year fixed rate at 3.09 percent, the 15-year rate at 2.74 percent, and a 5-year ARM at 3.3 percent.

The Mortgage News Daily survey rates for July 30 were 2.88 percent for a 30-year fixed, 2.5 percent for a 15-year fixed, and 2.75 percent for a 5-year ARM.

Week of July 16, 2020

For the first time in its 50-year history, the Freddie Mac Primary Mortgage Market Survey lists the average 30-year fixed-rate at below 3 percent.

5/21 5/28 6/4 6/11 6/18 6/25 7/2 7/9 7/16 3.24% 2.7% 3.17% 3.15% 2.62% 3.13% 3.18% 2.62% 3.1% 3.21% 2.62% 3.1% 3.13% 2.58% 3.09% 3.13% 2.59% 3.08% 3.07% 2.56% 3% 3.03% 2.51% 3.02% 2.98% 2.48% 3.06%
30-Year Fixed

For the week ending July 16, the 30-year rate averaged 2.98 percent, down from 3.03 percent the week before. A year ago at this time, it averaged 3.81 percent.

15-Year Fixed

Rates for a 15-year fixed mortgage averaged 2.48 percent for the week. That was a decline from 2.51 percent the week before. Last year, the 15-year rate averaged 3.23 percent.

5/1 ARM

The going rate on a 5-year adjustable-rate mortgage rose from 3.02 percent to 3.06 percent this week. It averaged 3.48 percent a year ago.

“The drop has led to increased homebuyer demand and, these low rates have been capitalized into asset prices in support of the financial markets,” said Sam Khater, Freddie Mac’s chief economist.

“However, the countervailing force for the economy has been the rise in new virus cases which has caused the economic recovery to stagnate, and this economic pause puts many temporary layoffs at risk of ossifying into permanent job losses.”

Bankrate listed the average 30-year fixed-rate at 3.14 percent, the 15-year fixed-rate at 2.72 percent, and 5-year ARM at 3.19 percent.

Week of July 9, 2020

Mortgage rates sunk to another all-time low this week as some borrowers have been able to obtain 30-year fixed rates under 3 percent.

5/14 5/21 5/28 6/4 6/11 6/18 6/25 7/2 7/9 3.28% 2.72% 3.18% 3.24% 2.7% 3.17% 3.15% 2.62% 3.13% 3.18% 2.62% 3.1% 3.21% 2.62% 3.1% 3.13% 2.58% 3.09% 3.13% 2.59% 3.08% 3.07% 2.56% 3% 3.03% 2.51% 3.02%
30-Year Fixed

This week’s Freddie Mac Primary Mortgage Market Survey showed the average 30-year fixed rate was 3.03 percent for the week ending July 9. That’s the lowest rate in the survey’s history dating to 1971.

15-Year Fixed

Freddie Mac listed the average 15-year fixed rate at 2.51 percent this week, down from 2.56 percent the week before. Last year it was 3.22 percent.

5/1 ARM

The going rate on a 5-year adjustable rate mortgage was 3.02 percent this week, according to Freddie Mac. That was up slightly from 3 percent the week before. The 5-year ARM averaged 3.46 percent a year ago.

This week’s 30-year average eclipsed last week’s record low of 3.07 percent. A year ago at this time, the average 30-year rate was 3.75 percent.

Mortgage News Daily’s Daily Rate Survey showed the average 30-year rate at 2.91 percent on July 9. Bankrate reported the current 30-year rate at 3.21 percent.

Week of July 2, 2020

Average mortgage rates sunk to another all-time low just ahead of the Independence Day holiday weekend, according to the latest data from Freddie Mac.

5/7 5/14 5/21 5/28 6/4 6/11 6/18 6/25 7/2 3.26% 2.73% 3.17% 3.28% 2.72% 3.18% 3.24% 2.7% 3.17% 3.15% 2.62% 3.13% 3.18% 2.62% 3.1% 3.21% 2.62% 3.1% 3.13% 2.58% 3.09% 3.13% 2.59% 3.08% 3.07% 2.56% 3%
30-Year Fixed

The going rate for a 30-year fixed mortgage fell to 3.07 percent for the week ending July 2. That’s the lowest rate in the survey’s history dating to 1971.

15-Year Fixed

Average rates on a 15-year fixed mortgage dropped slightly from 2.59 percent to 2.56 percent. A year ago, the 15-year rate averaged 3.18 percent.

5/1 ARM

Rates on a 5-year adjustable-rate mortgage also declined, from 3.08 percent to 3 percent. Last year, it averaged 3.45 percent.

“Mortgage rates continue to slowly drift downward with a distinct possibility that the average 30-year fixed-rate mortgage could dip below 3 percent later this year,” said Sam Khater, Freddie Mac’s chief economist.

The 30-year fixed rate averaged 3.13 percent the week before and was at 3.75 percent this time last year.

“On the economic front, incoming data suggest the rebound in economic activity has paused in the last couple of weeks with modest declines in consumer spending and a pullback in purchase activity,” Khater added.

Week of June 25, 2020

A week after reaching an all-time low, mortgage rates remained unchanged this week.

4/30 5/7 5/14 5/21 5/28 6/4 6/11 6/18 6/25 3.23% 2.77% 3.14% 3.26% 2.73% 3.17% 3.28% 2.72% 3.18% 3.24% 2.7% 3.17% 3.15% 2.62% 3.13% 3.18% 2.62% 3.1% 3.21% 2.62% 3.1% 3.13% 2.58% 3.09% 3.13% 2.59% 3.08%
30-Year Fixed

According to the latest Freddie Mac Primary Mortgage Market Survey, the average 30-year fixed-rate ended the week of June 25 at 3.13 percent, unchanged from the week before. A year ago at this time, the 30-year rate was 3.73 percent.

15-Year Fixed

The average 15-year fixed-rate rose a single basis point from 2.58 percent to 2.59 percent. Last year it was 3.16 percent.

5/1 ARM

The average rate on a 5-year adjustable-rate mortgage fell by a basis point, from 3.09 percent to 3.08 percent. It averaged 3.39 percent at this time a year ago.

Bankrate on June 25 reported the 30-year fixed rate at 3.37 percent, the 15-year fixed rate at 2.85 percent and the 5-year ARM at 3.15 percent.

Mortgage News Daily listed the going rate for a 30-year fixed mortgage at 2.97 percent on June 25, the 15-year fixed at 2.62 percent, and the 5-year ARM at 2.98 percent.

Week of June 11, 2020

Mortgage rates remained mostly unchanged from week to week, according to the latest Freddie Mac Primary Mortgage Market Survey.

4/16 4/23 4/30 5/7 5/14 5/21 5/28 6/4 6/11 3.31% 2.8% 3.34% 3.33% 2.86% 3.28% 3.23% 2.77%