Mortgage Rates Fall From Last Week’s Percentage

MCLEAN, Va. — Freddie Mac Thursday released the results of its Primary Mortgage Market Survey, showing that the 30-year fixed-rate mortgage (FRM) averaged 2.91 percent.

“This year has been anything but normal and as the uncertainty lingers, mortgage rates remain near record lows,” said Sam Khater, Freddie Mac’s Chief Economist. “These rates continue to incentivize potential buyers and the home-buying season, which shifted from spring to summer, will likely continue into the fall.”

News Facts

• 30-year fixed-rate mortgage averaged 2.91 percent with an average 0.8 point for the week ending August 27, 2020, down from last week when it averaged 2.99 percent. A year ago at this time, the 30-year FRM averaged 3.58 percent.  

• 15-year fixed-rate mortgage averaged 2.46 percent with an average 0.7 point, down from last week when it averaged 2.54 percent. A year ago at this time, the 15-year FRM averaged 3.06 percent.

• 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.91 percent with an average 0.2 point, unchanged from last week.  A year ago at this time, the 5-year ARM averaged 3.31 percent.