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30-Year Mortgage Rates Hit a New Low


30-Year Mortgage Rates Hit a New Low
Money.com
1/7/2021
© Money; Getty Images
Mortgage-Rates-Weekly-2021
This week, the average rate for a 30-year fixed-rate mortgage was 2.65% with 0.7 discount points paid, according to Freddie Mac’s Primary Mortgage Survey. Rates dropped .02 percentage points from a week earlier, setting a new record low in the process.
“A new year, a new record low mortgage rate,” said Sam Khater, chief economist for Freddie Mac.
Despite the new low, Khater noted that the conditions that have led to these record lows have begun to shift, as Treasury yields have been rising over the past few months. He expects rates to slowly rise over the coming months, although they will remain low by historic standards. Rising rates, however, may pose a new affordability challenge for borrowers. ....

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