Categories: Real Estate

Mortgage Rates Move Down

MCLEAN, Va. — Freddie Mac Thursday released the results of its Primary Mortgage Market Survey, showing that the 30-year fixed-rate mortgage (FRM) averaged 2.73 percent.

“As the market reacts to a new administration in Washington and COVID-19 driven economic malaise, mortgage rates continued to decrease this week, just slightly,” said Sam Khater, Freddie Mac’s Chief Economist. “Even as house prices increase at the fastest rate we’ve seen in years, competition to buy is strong given the low inventory that exists across the country. The fact that there are not enough homes to meet demand is going to be an ongoing issue for the foreseeable future.”

News Facts

  • 30-year fixed-rate mortgage averaged 2.73 percent with an average 0.7 point for the week ending January 28, 2021, down from last week when it averaged 2.77 percent. A year ago at this time, the 30-year FRM averaged 3.51 percent.

 

  • 15-year fixed-rate mortgage averaged 2.20 percent with an average 0.6 point, down from last week when it averaged 2.21 percent. A year ago at this time, the 15-year FRM averaged 3.00 percent.

 

  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.80 percent with an average 0.3 point, unchanged from last week. A year ago at this time, the 5-year ARM averaged 3.24 percent.
Share
Published by
Staff

Recent Posts

San Marcos City Council reviews Sidewalk Maintenance and Gap Infill Program

The San Marcos City Council received a presentation on the Sidewalk Maintenance and Gap Infill…

2 years ago

San Marcos River Rollers skate on and rebuild

The San Marcos River Rollers have skated through obstacles after taking a two-year break during…

2 years ago

After 8 Years, San Marcos Corridor News Bids Our Readers Farewell

San Marcos Corridor News has been reporting on the incredible communities in the Hays County…

2 years ago

High bacteria levels at Jacobs Well halts swimming season

Visitors won't be able to swim in the crystal clear waters of the Jacobs Well Natural…

2 years ago

Pets of the Week: Meet Sally & Nutella!

Looking to adopt or foster animals from the local shelter? Here are the San Marcos…

2 years ago

Texas still leads in workplace deaths among Hispanics

The Lone Star State leads the nation in labor-related accidents and especially workplace deaths and…

2 years ago

This website uses cookies.