Mortgage Rates Center
Freddie Mac Primary Mortgage Market Survey 3/12/2020: The average U.S. fixed rate for a 30-year mortgage rose to 3.36% this week, reversing course from last week’s all-time low of 3.29%. Although the rate is 7 basis points above the previous week’s level, it’s almost a percentage point below the 4.31% of the same week a year ago, according to Freddie Mac. Low rates caused mortgage applications to soar 55% last week from one week prior, and demand for refinances rose to an almost 11-year high, according to the Mortgage Bankers Association. “As refinance applications continue to surge and lenders work to manage capacity, the 30-year fixed-rate mortgage ticked up from last week’s all-time low,” said Freddie Mac’s Chief Economist Sam Khater. “Mortgage rates remain at extraordinary levels and many homeowners are smartly weighing their options to refinance, potentially saving themselves money.”
Freddie Mac PMMS 3/5/2020: The average U.S. rate for a 30-year fixed mortgage fell to 3.29% this week, the lowest ever recorded by Freddie Mac in a series that goes back to 1971. The rate fell 16 basis points from the prior week after the worst stock retreat since the 2008 financial crisis sent investors piling into the bond markets.
Freddie Mac PMMS 2/27/2020: The average U.S. fixed rate for a 30-year mortgage fell to 3.45% this week, matching the three-year low set three weeks ago.
Freddie Mac PMMS 2/20/2020: The average U.S. fixed rate for a 30-year mortgage ticked up to 3.49% this week, rising slightly from last week’s rate of 3.47%.
Freddie Mac PMMS 2/13/2020: The average U.S. fixed rate for a 30-year mortgage inched up to 3.47% this week.
Freddie Mac PMMS 2/6/2020: The average U.S. rate for a 30-year fixed mortgage this week fell to a three-year low of 3.45% as worries about coronavirus drove investors into the U.S. bond markets. That’s the lowest rate since 3.42% in the first week of October 2016 and it’s almost a full percentage point below the 4.41% recorded a year earlier.
Freddie Mac PMMS 1/30/2020: The average U.S. fixed rate for a 30-year mortgage averaged 3.51%, dropping to the second-lowest level in three years.
Note: Optimal Blue mortgage rates in the top widget are based on actual rate lock transactions and therefore include borrowers across the credit spectrum. The Freddie Mac PMMS, along with other survey rates, generally provide the rates available to the best borrowers.
The average U.S. FICO score hit a record high of 703 in 2019, driven by Millennials, as a strong labor market helped Americans to pay their bills on time.