1. 2021 Current Mortgage Rates [Primary Mortgage Market]
Based on the Freddie Mac Primary Mortgage Market Survey

2021 Current Average Mortgage Rates

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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.

12/31 1/7 1/14 1/28 2/4 2/11 2/18 2/25 3/4 2.67% 2.17% 2.71% 2.65% 2.16% 2.75% 2.79% 2.23% 3.12% 2.73% 2.2% 2.8% 2.73% 2.21% 2.78% 2.73% 2.19% 2.79% 2.81% 2.21% 2.77% 2.97% 2.34% 2.99% 3.02% 2.34% 2.73%
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.

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.

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.

12/24 12/31 1/7 1/14 1/28 2/4 2/11 2/18 2/25 2.66% 2.19% 2.79% 2.67% 2.17% 2.71% 2.65% 2.16% 2.75% 2.79% 2.23% 3.12% 2.73% 2.2% 2.8% 2.73% 2.21% 2.78% 2.73% 2.19% 2.79% 2.81% 2.21% 2.77% 2.97% 2.34% 2.99%
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.

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.

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.

12/17 12/24 12/31 1/7 1/14 1/28 2/4 2/11 2/18 2.67% 2.21% 2.79% 2.66% 2.19% 2.79% 2.67% 2.17% 2.71% 2.65% 2.16% 2.75% 2.79% 2.23% 3.12% 2.73% 2.2% 2.8% 2.73% 2.21% 2.78% 2.73% 2.19% 2.79% 2.81% 2.21% 2.77%
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.

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.

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.

12/10 12/17 12/24 12/31 1/7 1/14 1/28 2/4 2/11 2.71% 2.26% 2.79% 2.67% 2.21% 2.79% 2.66% 2.19% 2.79% 2.67% 2.17% 2.71% 2.65% 2.16% 2.75% 2.79% 2.23% 3.12% 2.73% 2.2% 2.8% 2.73% 2.21% 2.78% 2.73% 2.19% 2.79%
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.

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.

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 4, 2021

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

12/3 12/10 12/17 12/24 12/31 1/7 1/14 1/28 2/4 2.71% 2.26% 2.86% 2.71% 2.26% 2.79% 2.67% 2.21% 2.79% 2.66% 2.19% 2.79% 2.67% 2.17% 2.71% 2.65% 2.16% 2.75% 2.79% 2.23% 3.12% 2.73% 2.2% 2.8% 2.73% 2.21% 2.78%
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.

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.

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.

11/26 12/3 12/10 12/17 12/24 12/31 1/7 1/14 1/28 2.72% 2.28% 3.16% 2.71% 2.26% 2.86% 2.71% 2.26% 2.79% 2.67% 2.21% 2.79% 2.66% 2.19% 2.79% 2.67% 2.17% 2.71% 2.65% 2.16% 2.75% 2.79% 2.23% 3.12% 2.73% 2.2% 2.8%
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.

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.

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.

11/19 11/26 12/3 12/10 12/17 12/24 12/31 1/7 1/14 2.72% 2.28% 2.85% 2.72% 2.28% 3.16% 2.71% 2.26% 2.86% 2.71% 2.26% 2.79% 2.67% 2.21% 2.79% 2.66% 2.19% 2.79% 2.67% 2.17% 2.71% 2.65% 2.16% 2.75% 2.79% 2.23% 3.12%
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.

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.

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 7, 2021

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

11/12 11/19 11/26 12/3 12/10 12/17 12/24 12/31 1/7 2.84% 2.34% 3.11% 2.72% 2.28% 2.85% 2.72% 2.28% 3.16% 2.71% 2.26% 2.86% 2.71% 2.26% 2.79% 2.67% 2.21% 2.79% 2.66% 2.19% 2.79% 2.67% 2.17% 2.71% 2.65% 2.16% 2.75%
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.

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.

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.

11/5 11/12 11/19 11/26 12/3 12/10 12/17 12/24 12/31 2.78% 2.32% 2.89% 2.84% 2.34% 3.11% 2.72% 2.28% 2.85% 2.72% 2.28% 3.16% 2.71% 2.26% 2.86% 2.71% 2.26% 2.79% 2.67% 2.21% 2.79% 2.66% 2.19% 2.79% 2.67% 2.17% 2.71%
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.

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.

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.

10/29 11/5 11/12 11/19 11/26 12/3 12/10 12/17 12/24 2.81% 2.32% 2.88% 2.78% 2.32% 2.89% 2.84% 2.34% 3.11% 2.72% 2.28% 2.85% 2.72% 2.28% 3.16% 2.71% 2.26% 2.86% 2.71% 2.26% 2.79% 2.67% 2.21% 2.79% 2.66% 2.19% 2.79%
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.

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.

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

10/22 10/29 11/5 11/12 11/19 11/26 12/3 12/10 12/17 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% 2.72% 2.28% 3.16% 2.71% 2.26% 2.86% 2.71% 2.26% 2.79% 2.67% 2.21% 2.79%
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.

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.

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.

10/15 10/22 10/29 11/5 11/12 11/19 11/26 12/3 12/10 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% 2.72% 2.28% 3.16% 2.71% 2.26% 2.86% 2.71% 2.26% 2.79%
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.

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.

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 3, 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.

10/8 10/15 10/22 10/29 11/5 11/12 11/19 11/26 12/3 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% 2.72% 2.28% 3.16% 2.71% 2.26% 2.86%
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.

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.

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.

10/1 10/8 10/15 10/22 10/29 11/5 11/12 11/19 11/26 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% 2.72% 2.28% 3.16%
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.

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.

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.

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.