Mortgage Rates Center
Freddie Mac Primary Mortgage Market Survey 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%. This week’s rate is only two basis points above the previous week’s rate, but a whopping 86 basis points below the 4.35% of the same week last year. Sam Khater, Freddie Mac’s chief economist, said the nation’s low mortgage rates continue to champion this year’s purchasing demand. “The low mortgage rate environment continues to spur homebuying activity, with applications to purchase a home up 15% from a year ago,” Khater said. “We’ve seen new residential construction surge over the last few months, on pace to reach the highest level in more than a decade. This is a good sign for the inventory-starved housing market and is a promising indication for the spring home buying season.”
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.
Freddie Mac PMMS 1/23/2020: The average U.S. fixed rate for a 30-year fell to 3.6% during this week, a three-month low.
Freddie Mac PMMS 1/16/2020: The average U.S. fixed rate for a 30-year averaged 3.65% in this week.
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.
Mortgage applications fell 1.2% from last week, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey.