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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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% 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%
30-Year Fixed

Freddie Mac’s survey showed the 30-year fixed-rate average rising slightly from 3.18 percent to 3.21 percent for the week ending June 11. A year ago, the 30-year rate averaged 3.82 percent.

15-Year Fixed

The 15-year fixed-rate stayed unchanged from last week at 2.62 percent. A year ago, the 15-year fixed-rate was 3.26 percent

5/1 ARM

The 5-year ARM remained unchanged as well at 3.10 percent this week, compared with 3.51 percent last year.

“The rebound in homebuyer demand continued this week, driven by mortgage rates that hover near record lows,” said Sam Khater, Freddie Mac’s chief economist. “This turnaround in demand, particularly by those who have higher incomes than the typical household, also reflects deferred sales from the spring.”

Another source for mortgage rates reported Thursday that average rates have fallen to record lows, with the 30-year fixed rate falling below 3 percent.

Mortgage News Daily said the average rate on the 30-year fixed mortgage hit 2.97 percent Thursday, with some lenders quoting rates as low as 2.75 percent.

Mortgage News Daily attributed the drop in mortgage rates to investors rushing to the relative safety of the bond market. Mortgage rates loosely follow the yield on the 10-year U.S. Treasury.

Meanwhile, Bankrate on June 11 reported the 30-year fixed rate at 3.49 percent, the 15-year fixed-rate at 2.81 percent and the 5-year ARM at 3.18 percent.

Week of June 4, 2020

There were mixed movements in mortgage rates this week, according to the latest Freddie Mac Primary Mortgage Survey.

4/9 4/16 4/23 4/30 5/7 5/14 5/21 5/28 6/4 3.33% 2.77% 3.4% 3.31% 2.8% 3.34% 3.33% 2.86% 3.28% 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%
30-Year Fixed

For the week ending June 4, the average 30-year fixed-rate bumped up slightly to 3.18 percent. The week before, the 30-year rate reached an all-time low of 3.15 percent. A year ago at this time, the 30-year fixed-rate averaged 3.82 percent.

15-Year Fixed

The 15-year fixed-rate remains unchanged week-to-week at a considerably low 2.62 percent. Last year’s 15-year fixed rate was at 3.82 percent.

5/1 ARM

The average on a 5-year adjustable-rate mortgage edged downward from 3.13 percent to 3.10 percent. It was 3.52 percent at this time last year.

“While the economy is slowly rebounding, all signs continue to point to a solid recovery in home sales activity heading into the summer as prospective buyers jump back into the market. Low mortgage rates are a key factor in this recovery,” said Sam Khater, Freddie Mac’s chief economist.

“While homebuyer demand is up and has been broad-based across most geographies, supply has been slower to improve. In fact, the gap between supply and demand has widened even further than the large gap that existed prior to the pandemic.”

Week of May 28, 2020

In nearly half of century of conducting mortgage rate surveys, the average Freddie Mac 30-year fixed rate has never been lower than it was for the week ending May 28, 2020.

4/2 4/9 4/16 4/23 4/30 5/7 5/14 5/21 5/28 3.33% 2.82% 3.4% 3.33% 2.77% 3.4% 3.31% 2.8% 3.34% 3.33% 2.86% 3.28% 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%
30-Year Fixed

In this week’s survey, the average 30-year rate was 3.15 percent. That was down from 3.24 percent the week before and 3.99 percent at this time a year ago.

15-Year Fixed

The 15-year fixed-rate is also down significantly, ending the week at 2.62 percent. It fell eight basis points from 2.70 percent the week before. At this time last year, the 15-year fixed-rate averaged 3.46 percent.

5/1 ARM

The 5-year adjustable-rate mortgage averaged 3.13 percent, a decline from 3.17 percent the week before and from 3.60 last year.

“The 30-year fixed-rate mortgage has again hit the lowest level in our survey’s nearly 50-year history, breaking the record for the third time in just the last few months,” said Sam Khater, Freddie Mac’s chief economist.

“These unprecedented rates have certainly made an impact as purchase demand rebounded from a 35 percent year-over-year decline in mid-April to an 8 percent increase as of last week—a remarkable turnaround given the sharp contraction in economic activity,” said Khater. “

Additionally, refinance activity remains elevated and low mortgage rates have been accompanied by a $70,000 decline in the average loan size of refinance borrowers this year. This means a broader base of borrowers are taking advantage of the record low rate environment, which will benefit the economy.”

Week of May 21, 2020

According to the latest Freddie Mac Primary Mortgage Market Survey, all three major rates dropped slightly for the week ending May 21, continuing a trend that has seen rates hover near record lows since the onset of the COVID-19 pandemic.

3/26 4/2 4/9 4/16 4/23 4/30 5/7 5/14 5/21 3.5% 2.92% 3.34% 3.33% 2.82% 3.4% 3.33% 2.77% 3.4% 3.31% 2.8% 3.34% 3.33% 2.86% 3.28% 3.23% 2.77% 3.14% 3.26% 2.73% 3.17% 3.28% 2.72% 3.18% 3.24% 2.7% 3.17%
30-Year Fixed

The average 30-year fixed-rate fell to 3.24 percent this week, down from 3.28 percent the previous week. Last year’s 30-year rate averaged 4.06 percent.

15-Year Fixed

The 15-year rate averaged 2.70 percent, a modest decline from 2.72 percent the week before. A year ago, the 15-year fixed rate was at 3.51 percent.

5/1 ARM

The going rate for a 5-year adjustable-rate mortgage dropped a basis point from 3.18 percent to 3.17 percent. A year ago at this time, the 5-year ARM averaged 3.68 percent.

“For the fourth consecutive week, the 30-year fixed-rate mortgage has been below 3.30 percent, giving potential buyers a good reason to continue shopping even amid the pandemic,” said Sam Khater, Freddie Mac’s chief economist.

“As states reopen, we’re seeing purchase demand improve remarkably fast, now essentially flat relative to a year ago. Going forward, mortgage rates have room to decline as mortgage spreads remain elevated.”

Week of May 14, 2020

According to Freddie Mac, mortgage rates held steady this past week at historically low levels.

3/19 3/26 4/2 4/9 4/16 4/23 4/30 5/7 5/14 3.65% 3.06% 3.11% 3.5% 2.92% 3.34% 3.33% 2.82% 3.4% 3.33% 2.77% 3.4% 3.31% 2.8% 3.34% 3.33% 2.86% 3.28% 3.23% 2.77% 3.14% 3.26% 2.73% 3.17% 3.28% 2.72% 3.18%
30-Year Fixed

The average 30-year rate for the week was 3.28 percent. That was slightly higher than 3.26 percent the week before. A year ago at this time, Freddie Mac listed the average rate on a 30-year fixed at 4.07 percent.

15-Year Fixed

The 15-year rate for the week averaged 2.72 percent, down a basis point from 2.73 percent the week before. A year ago at this time, Freddie Mac listed the average rate on a 15-year fixed at 3.53 percent.

5/1 ARM

The 5-year ARM rate rose a point from 3.17 percent to 3.18 for the week. A year ago at this time, Freddie Mac listed the average rate on a 5-year ARM at 3.66 percent.

“Mortgage rates have stabilized at very low levels over the last few weeks as homebuyer demand slowly improves,” said Sam Khater, Freddie Mac’s chief economist.

“Although purchase applications reached a new low in mid-April, today purchase demand is only down 10 percent from one year ago. While demand is improving, inventory is low and declining with no signs of a turnaround yet.”

Week of May 7, 2020

Mortgage rates remained near record lows this week with the 30-year fixed up slightly and the 15-year fixed pushed further downward.

3/12 3/19 3/26 4/2 4/9 4/16 4/23 4/30 5/7 3.36% 2.77% 3.01% 3.65% 3.06% 3.11% 3.5% 2.92% 3.34% 3.33% 2.82% 3.4% 3.33% 2.77% 3.4% 3.31% 2.8% 3.34% 3.33% 2.86% 3.28% 3.23% 2.77% 3.14% 3.26% 2.73% 3.17%
30-Year Fixed

In the latest Freddie Mac Primary Mortgage Market Survey, the 30-year rate averaged 3.26 percent during the week ending May 7. That was an increase over the 3.23 percent average the week before. Last year, it was 4.10 percent.

15-Year Fixed

This week’s 15-year fixed rate averaged 2.73 percent, down from 2.77 percent the week before. Last year’s average was 3.57 percent.

5/1 ARM

The average rate on the 5-year adjustable-rate mortgage was 3.17 percent this week. That was up from 3.14 percent the week before. A year ago at this time, the 5-year ARM averaged 3.63 percent.

“Mortgage rates stayed at or near record lows for the fifth straight week and homeowners are taking advantage with refinance activity remaining high,” said Sam Khater, Freddie Mac’s chief economist.

“Although purchase demand declined 35 percent year-over-year in mid-April, demand has improved modestly over the last three weeks.”

On May 7, Bankrate.com listed the current average 30-year fixed mortgage rate at 3.54 percent; 15-year fixed at 3.15 percent; and a 5-year ARM at 3.33 percent.

Week of April 30, 2020

In the nearly 50-year history of the Freddie Mac Primary Mortgage Market Survey, the 30-year fixed mortgage rate has never been lower than it was this past week.

3/5 3/12 3/19 3/26 4/2 4/9 4/16 4/23 4/30 3.29% 2.79% 3.18% 3.36% 2.77% 3.01% 3.65% 3.06% 3.11% 3.5% 2.92% 3.34% 3.33% 2.82% 3.4% 3.33% 2.77% 3.4% 3.31% 2.8% 3.34% 3.33% 2.86% 3.28% 3.23% 2.77% 3.14%
30-Year Fixed

For the week ending April 30, the 30-year rate dropped to 3.23 percent, down from 3.23 percent the week before. A year ago, the 30-year rate averaged 4.14 percent.

15-Year Fixed

The average 15-year rate also continued to fall. It averaged 2.77 percent for the week, compared to 2.86 percent the week before. It was 3.60 percent at this time last year.

5/1 ARM

The going rate on 5-year adjustable-rate mortgages sunk 14 basis points from 3.28 percent to 3.14 percent. A year ago at this time, the 5-year ARM averaged 3.68 percent.

“The size and depth of the secondary mortgage market is helping to keep rates at record lows. These low rates are driving higher refinance activity and have modestly helped improve purchase demand from their extremely low levels in mid-April,” said Sam Khater, Freddie Mac’s chief economist.

“While many people are benefitting from low mortgage rates, it’s important to remember that not all people are able to take advantage of them given the current pandemic.”

Week of April 23, 2020

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

2/27 3/5 3/12 3/19 3/26 4/2 4/9 4/16 4/23 3.45% 2.95% 3.2% 3.29% 2.79% 3.18% 3.36% 2.77% 3.01% 3.65% 3.06% 3.11% 3.5% 2.92% 3.34% 3.33% 2.82% 3.4% 3.33% 2.77% 3.4% 3.31% 2.8% 3.34% 3.33% 2.86% 3.28%
30-Year Fixed

For the week ending April 23, the average 30-year fixed rate was 3.33 percent. That marked an increase of two basis points from the previous week, when the average 30-year rate was 3.31 percent. Last year’s average was 4.20 percent.

15-Year Fixed

The average 15-year fixed-rate climbed six basis points this week, from 2.80 percent to 2.86 percent. A year ago at this time, the 15-year rate was 3.64 percent.

5/1 ARM

The five-year rate on an adjustable-rate mortgage averaged 3.28 percent. It was 3.34 percent the week before and 3.77 percent at this time last year.

“Mortgage rates have stabilized over the last few weeks as the market searches for direction in the fog of economic data,” said Sam Khater, Freddie Mac’s chief economist.

“While financial markets initially rallied on the news of Federal Reserve support and are improving due to the Senate’s passage of a new small business stimulus, we continue to see a deep economic contraction amidst uncertainty about the recovery formation.”

On April 23, Bankrate.com listed the current average 30-year fixed mortgage rate at 3.57 percent; 15-year fixed at 3.15 percent; and a 5-year ARM at 3.38 percent.

Week of April 16, 2020

Homeowners continue to take advantage of near record-low mortgage rates to refinance their current loans.

2/20 2/27 3/5 3/12 3/19 3/26 4/2 4/9 4/16 3.49% 2.99% 3.25% 3.45% 2.95% 3.2% 3.29% 2.79% 3.18%