Mortgage Rates Tick Up
MCLEAN, Va. — Freddie Mac Thursday released the results of its Primary Mortgage Market Survey, showing that the 30-year fixed-rate mortgage (FRM) averaged 2.79 percent.
“As Treasury yields have risen, it is putting pressure on mortgage rates to move up,” said Sam Khater, Freddie Mac’s Chief Economist. “While mortgage rates are expected to increase modestly in 2021, they will remain inarguably low, supporting homebuyer demand and leading to continued refinance activity. Borrowers are smart to take advantage of these low rates now and will certainly benefit as a result.”
News Facts
- 30-year fixed-rate mortgage averaged 2.79 percent with an average 0.7 point for the week ending January 14, 2021, up from last week when it averaged 2.65 percent. A year ago at this time, the 30-year FRM averaged 3.65 percent.
- 15-year fixed-rate mortgage averaged 2.23 percent with an average 0.7 point, up from last week when it averaged 2.16 percent. A year ago at this time, the 15-year FRM averaged 3.09 percent.
- 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.12 percent with an average 0.4 point, up from last week when it averaged 2.75 percent. A year ago at this time, the 5-year ARM averaged 3.39 percent.
