Freddie Mac: Mortgage Rates Fall To Another Record Low – NMP Skip to main content

Freddie Mac: Mortgage Rates Fall To Another Record Low

Navi Persaud
Dec 03, 2020
Small home in the suburbs.

Freddie Mac's Primary Mortgage Markets Survey reported that the 30-year fixed-rate mortgage averaged 2.71%, the lowest rate in the survey's history. This marks a 0.7 point drop for the week ending December 3.

"Despite persistently low mortgage rates, home sales have hit a wall. While homebuyer appetite remains robust, the scarce inventory has effectively put a limit on how much higher sales can increase," said Sam Khater, Freddie Mac's chief economist. "Unfortunately, the record low supply combined with strong demand means home prices are rapidly escalating and eroding the benefits of the low mortgage rate environment."

Additionally, the 15-year fixed-rate mortgage averaged 2.26% down from its previous week's average of 2.28% and is significantly lower than the 3.14% average from the same period in 2019.

The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 2.86%, down from last week's average of 3.16%.

Yesterday, United Wholesale Mortgage announced that it is now offering Federal Housing Administration loans with rates ranging from 1.999-2.5% through its Conquest program, sparking rumors of today's dip in rates. 

Freddie Mac Primary Mortgage Market Survey 12/03/2020

Published
Dec 03, 2020
Class Action Lawsuit Filed Against Equifax Over Glitch

Complaint stems from errors in credit scores made earlier this year.

Industry News
Aug 08, 2022
Birchwood Credit Services Promotes New Chief Operating Officer

Barrett Elliot has been with national provider of mortgage credit reporting services since 2010.

Industry News
Aug 08, 2022
Redfin 2Q Revenues Up, Profits Down

Company officials said that in the third quarter they expect total revenue between $590 million and $627 million.

Industry News
Aug 05, 2022
Mutual of Omaha Mortgage Announces Wholesale Division

Loans available through its own platform and in partnership with ReadyPrice, LenderPrice, and Loansifter.

Industry News
Aug 05, 2022
MISMO Seeks Public Comment On 3 eMortgage Resources

Updates proposed to MISMO Business Glossary, eMortgage Glossary, and eModification Reference Flyer.

Regulation and Compliance
Aug 05, 2022
Deal With Opendoor Allows Zillow Back Into iBuying Business

As it releases rough 2Q earnings report, Zillow announces partnership with former rival.

Tech
Aug 04, 2022