Mortgage Rates Slightly Increase
Mortgage interest rates continued on their slightly up-and-down track this week with a small increase that still keeps numbers a tick below 3%. The Primary Mortgage Market Survey released today by Freddie Mac shows that the 30-year fixed-rate mortgage averaged 2.99%.
“Purchase housing demand continues to accelerate, ultimately providing support to an economy that otherwise has stagnated,” said Sam Khater, chief economist for Freddie Mac. “The surge in sales led to a rapid increase in the demand for remodeling and home furnishings as consumers look to renovate while adjusting to home life during COVID.”
According to the Primary Mortgage Market Survey, the 15-year fixed-rate mortgage is up to 2.54% from last week's average of 2.46%. It remains significantly lower than last year's average of 3.03%. Additionally, the 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 2.91%, up slightly from last week's average of 2.90%.
Read the full Freddie Mac survey.
Subscribe to the nmp Daily
FMJ Job Listings
- U/W Liaison I - Guild Mortgage Company - San Diego,
- Field Marketing Manager - Guild Mortgage Company - Sacramento,
- Underwriting Manager - Fifth Third Bank - Virtual, OH
- Financial Center Manager Associate I - Fifth Third Bank - Bradenton, FL
- Retail Personal Banker II - Buffalo Grove - Full Time - Fifth Third Bank - BUFFALO GROVE, IL
- Retail Personal Banker Associate I - Kildeer - Full Time - Fifth Third Bank - Kildeer, IL