“Mortgage rates remained flat this week and near record lows, signifying an economy that continues to struggle,” said Sam Khater, Freddie Mac’s Chief Economist. “This rate environment is advantageous for those who are looking to refinance in order to strengthen their financial position. While many have already refinanced, the evidence suggests that upper-income homeowners have taken advantage of the opportunity more so than lower-income homeowners who could stand to benefit the most by lowering their monthly mortgage payment.”
- 30-year fixed-rate mortgage averaged 2.73 percent with an average 0.7 point for the week ending February 4, 2021, unchanged from last week. A year ago at this time, the 30-year FRM averaged 3.45 percent.
- 15-year fixed-rate mortgage averaged 2.21 percent with an average 0.6 point, up slightly from last week when it averaged 2.20 percent. A year ago at this time, the 15-year FRM averaged 2.97 percent.
- 5-year Treasury-indexed hybrid adjustable-rate mortgage(ARM) averaged 2.78 percent with an average 0.3 point, down from last week when it averaged 2.80 percent. A year ago at this time, the 5-year ARM averaged 3.32 percent.