Average weekly US mortgage rates as 12 24 20
Average weekly US mortgage rates as 12 24 20
MCLEAN, Va., December 24, 2020 (GLOBE NEWSWIRE) – Freddie Mac (OTCQB: FMCC) today on the results of a Basic Mortgage Market Research® (PMMS®), showing that the average 30-year fixed rate mortgage (FRM) was 2.66 percent, the lowest in the history of the study dating back to 1971.
“The housing market is poised to end the strong year as low mortgage rates continue to drive home consumer demand and refinancing activity,” said Sam Khater, Freddie Mac’s Chief Economist. “Moving into 2021, we expect levels to be stable but the key driver in the short term will be the pathway of the COVID-19 pandemic and the implementation of the vaccine.”
News information
- 30-year fixed rate mortgage an average of 2.66 percent with an average point of 0.7 for the week ending December 24, 2020, down from last week when it averaged 2.67 percent. A year ago at this time, the 30-year average FRM was 3.74 percent.
- 15-year-old fixed rate mortgage averaged 2.19 percent with an average point of 0.5, down from last week when it averaged 2.21 percent. A year ago at this time, the 15-year FRM averaged 3.19 percent.
- 5-year index hybrid variable rate mortgage (ARM) averaged 2.79 percent with an average point of 0.2, unchanged from last week. A year ago at this time, the 5-year ARM averaged 3.45 percent.
About PMMS® aimed at conventional, consistent, high-value home purchase loans for lenders that drop 20 percent and have excellent credit. Average guarantee rates should be reported along with average fees and points to get the total upfront cost of obtaining the mortgage. Visit the following link for the Definitions. Fishermen may pay closing costs not included in the survey.
Freddie Mac makes the home possible for millions of families and individuals by providing mortgage capital to lenders. Since its creation by Congress in 1970, we have made housing more affordable and affordable for home buyers and tenants in communities across the country. We are building a better housing finance system for home buyers, tenants, lenders, investors and taxpayers. Learn more at FreddieMac.com, Twitter @FreddieMac and Freddie Mac blog FreddieMac.com/blog.
PRESS INFORMATION:
Chad Wandler
703-903-2446
[email protected]
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