Mortgage Rates Move Slightly

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 2.77 percent.

“Mortgage rates have hovered near historic lows for almost a year, fueling purchase and refinance activity amid a global health crisis,” said Sam Khater, Freddie Mac’s Chief Economist. “We’re now seeing rates fluctuate a bit as political and economic factors drive Treasury yields higher. However, we forecast rates to remain relatively low this year as the Federal Reserve keeps interest rates anchored near zero for a longer period of time, if needed until the economy rebounds.”

News Facts

• 30-year fixed-rate mortgage averaged 2.77 percent with an average 0.7 point for the week ending January 21, 2021, down from last week when it averaged 2.79 percent. A year ago at this time, the 30-year FRM averaged 3.60 percent.

• 15-year fixed-rate mortgage averaged 2.21 percent with an average 0.6 point, down from last week when it averaged 2.23 percent. A year ago at this time, the 15-year FRM averaged 3.04 percent.

• 5-year Treasury-indexed hybrid adjustable-rate mortgage(ARM) averaged 2.80 percent with an average 0.4 point, down from last week when it averaged 3.12 percent. A year ago at this time, the 5-year ARM averaged 3.28 percent.