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Today s Best Mortgage Rates: Dec 21, 2020

Today s Best Mortgage Rates: Dec. 21, 2020 Money.com 12/21/2020 © Money; Getty Images Mortgage-Rate-Dec-21-illo All-cash offers reached the smallest share of the housing market since 2007 as record-low interest rates make taking out a mortgage more affordable for most buyers. Bidding wars are still the norm, although fewer homes are seeing multiple offers come in. Meanwhile, mortgage rates decreased again on Friday. Today’s Mortgage Rates The average rate for a 30-year fixed-rate purchase mortgage was 3.039% on Friday. On Thursday, the average rate was 3.055%. Money’s mortgage rates include the data from over 8,000 lenders across the United States and are updated daily. These rates include discount points and represent what a borrower with a 20% down payment and 700 credit scores roughly the national average FICO score would have been quoted.

Some mortgage rates lowest in recorded history

The Federal Home Loan Mortgage Corp. (Freddie Mac) announced earlier this week that, according to its Primary Mortgage Market Survey (PMMS), the 30-year fixed-rate mortgage averaged 2.67 percent, which is the lowest rate in the survey’s history which dates back to 1971. “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.”

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Thursday s Best Mortgage Rates: Dec 17

Thursday s Best Mortgage Rates: Dec. 17 Money.com 12/17/2020 © Money; Getty Images Mortgage-Rate-Dec-17-illo After three months of records, builder confidence took a step back in December due to concerns about rising construction costs. Despite the slide, builders are still feeling more positive about the housing market than they have in years. Mortgage rates increased by 0.11 percentage points today. Today’s Mortgage Rates The average rate for a 30-year fixed-rate purchase mortgage was 3.103% on Wednesday. On Tuesday, the average rate was 3.092%. Money’s mortgage rates include data from over 8,000 lenders across the United States and are updated daily. These rates include discount points and represent what a borrower with a 20% down payment and 700 credit scores roughly the national average FICO score would have been quoted.

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