“Reaching its peak since mid-November, the 30-year fixed-rate mortgage averaged 2.81 percent this week,” said Sam Khater, chief economist at Freddie Mac. “Economic spending has improved due to to the most recent stimulus, but supply chain scarcity is causing downstream inflation, leading to higher mortgage rates. While there are several temporary factors that drive rates, the underlying economic fundamentals point to rates that remain low 3 percentage range for the year. “
- 30-year fixed rate mortgage it averaged 2.81 percent with an average of 0.7 points for the week ending February 18, 2021, up from last week, when it averaged 2.73 percent. A year ago, at that time, the 30-year FRM averaged 3.49%.
- 15-year fixed rate mortgage it averaged 2.21 percent with an average of 0.7 points, up from last week, when it reached an average of 2.19 percent. A year ago, at this time, the 15-year-old FRM averaged 2.99%.
- 5-year Treasury-indexed hybrid adjustable rate mortgage (ARM) averaged 2.77 percent with an average of 0.2 points, down from last week, when it averaged 2.79 percent. A year ago, at this time, the 5-year ARM averaged 3.25%.
The PMMS focuses on conventional, compliant and fully amortized home loans for borrowers who pay 20% and have excellent credit. The average commitment rates must be reported together with the rates and midpoints to reflect the total initial cost of obtaining the mortgage. Visit the following link for Definitions Borrowers can still pay closing costs that are not included in the survey.
Freddie Mac makes home possible for millions of families and individuals by providing mortgage capital to creditors. Since our creation by Congress in 1970, we have made housing more affordable and affordable for buyers and renters in communities across the country. We are building a better housing finance system for buyers, renters, creditors, investors and taxpayers. Learn more at FreddieMac.com, Twitter @FreddieMac and Freddie Mac’s blog FreddieMac.com/blog.