Mortgage Rates Hit Another Record Low

MCLEAN, Va. — Freddie Mac Thursday released the results of its Primary Mortgage Market Survey (PMMS), showing that the 30-year fixed-rate mortgage (FRM) averaged 2.67 percent, the lowest rate in the survey’s history which dates back to 1971.

“The housing market continues to surge higher and support an otherwise stagnant economy that has lost momentum in the last couple of months,” said Sam Khater, Freddie Mac’s Chief Economist. “Mortgage rates are at record lows and pushing many prospective homebuyers off the sidelines and into the market. Homebuyer sentiment is sanguine and purchase demand shows no real signs of waning at all heading into next year.”

News Facts

• 30-year fixed-rate mortgage averaged 2.67 percent with an average 0.7 point for the week ending December 17, 2020, down from last week when it averaged 2.71 percent. A year ago at this time, the 30-year FRM averaged 3.73 percent.

• 15-year fixed-rate mortgage averaged 2.21 percent with an average 0.6 point, down from last week when it averaged 2.26 percent. A year ago at this time, the 15-year FRM averaged 3.19 percent.

• 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.79 percent with an average 0.3 point, unchanged from last week. A year ago at this time, the 5-year ARM averaged 3.36 percent.