Weekly Mortgage Rates Lowest In 49 Years

MCLEAN, Va. — Freddie Mac Thursday released the results of its Primary Mortgage Market Survey, showing that the 30-year fixed-rate mortgage (FRM) averaged 2.78 percent, the lowest rate in our survey’s history which dates back to 1971.

“Mortgage rates hit another record low, the twelfth time this year, due to economic and political ambiguity,” said Sam Khater, Freddie Mac’s Chief Economist. “Despite the uncertainty that we’ve all experienced this year, the housing market, buoyed by low rates, continues to be a bright spot.”

News Facts

• 30-year fixed-rate mortgage averaged 2.78 percent with an average 0.7 point for the week ending November 5, 2020, down from last week when it averaged 2.81 percent. A year ago at this time, the 30-year FRM averaged 3.69 percent.

• 15-year fixed-rate mortgage averaged 2.32 percent with an average 0.6 point, unchanged from last week. A year ago at this time, the 15-year FRM averaged 3.13 percent.

• 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.89 percent with an average 0.3 point, up slightly from last week when it averaged 2.88 percent. A year ago at this time, the 5-year ARM averaged 3.39 percent.