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Mortgage Rates Drop Again


Mortgage Rates Drop Again
© Money; Getty Images
Mortgage-Rates-Weekly-2021
This week, the average rate for a 30-year fixed-rate mortgage decreased to 2.73% with 0.7 discount points paid, according to Freddie Mac’s benchmark Primary Mortgage Survey.
“As the market reacts to a new administration in Washington and COVID-19 driven economic malaise, mortgage rates continued to decrease this week,” said Sam Khater, chief economist at Freddie Mac. “Even as house prices increase at the fastest rate we’ve seen in years, competition is strong given the low inventory across the country.”
The average rate for a 15-year fixed-rate mortgage decreased .02 percentage points to 2.0% with 0.6 points paid. A year ago the rate averaged 3.00%. ....

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Current Mortgage Rates: Interest Rates Drop


Current Mortgage Rates: Interest Rates Drop
Money.com
1/21/2021
© Money; Getty Images
Mortgage-Rate-Weekly-Down
This week, the average rate for a 30-year fixed-rate mortgage decreased by 0.02 percentage points to 2.77% with 0.7 discount points paid, according to Freddie Mac’s benchmark Primary Mortgage Survey.
“Mortgage rates have hovered near historic lows for almost a year, fueling purchase and refinance activity amid a global health crisis,” said Sam Khater, chief economist for Freddie Mac. “We’re now seeing rates fluctuate a bit as political and economic factors drive Treasury Yields higher. However, we forecast rates to remain relatively low this year as the Federal Reserve keeps interest rates anchored near zero for a longer period of time, if needed until the economy rebounds.” ....

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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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Mortgage Rates Hit 16th Record Low of 2020


Mortgage Rates Hit 16th Record Low of 2020
Money.com
12/24/2020
© Money; Getty Images
Mortgage-Rate-Weekly-Down
This week, the average rate for a 30-year fixed-rate mortgage was 2.66% with 0.70 discount points paid. Rates dropped 0.01 percentage points from the week ending December 17 to set the 16th record low of the year. The last record was set on December 17 and held for a single week. One year ago, the average rate was 3.75%.
“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, chief economist for Freddie Mac.
The average rate for a 15-year fixed-rate mortgage was down by 0.02 percentage points, averaging 2.19% with 0.5 points paid. The 15-year interest rate for the same week last year was 3.19%. The average rate on a 5-year adjustable-rate mortgage remained unchanged at 2.79% with 0.3 discount points paid. ....

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Mortgage Rates Hit 15th Record Low of 2020


Mortgage Rates Hit 15th Record Low of 2020
Money.com
12/17/2020
© Money; Getty Images
Mortgage-Rate-Weekly-Down
This week, the average rate for a 30-year fixed-rate mortgage was 2.67% with 0.70 discount points paid. Rates dropped 0.4 percentage points from the week ending December 10 to set the 15th record low of the year. The last record was set on December 3 and held for two weeks. One year ago, the average rate was 3.73%.
“Mortgage Rates are at record lows and pushing many prospective homebuyers off the sidelines and into the market,” said Sam Khater, chief economist for Freddie Mac. “Homebuyer sentiment is sanguine and purchase demand shows no real sign of waning at all heading into next year.” ....

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