There was little movement in interest rates this week according to today's release of Freddie Mac's Primary Mortgage Market Survey. The 30-year fixed-rate mortgage (FRM) averaged 2.86 percent.
“Mortgage rates stayed relatively flat this week,” said Sam Khater, Freddie Mac’s Chief Economist. “Housing is in a similar phase of the economic cycle as many other consumer goods. While there is strong latent demand, low supply has caused prices to rise as shortages restrict the amount of sales activity that otherwise would occur.”
•30-year fixed-rate mortgage averaged 2.86 percent with an average 0.7 point for the week ending August 19, 2021, down slightly from last week when it averaged 2.87 percent. A year ago at this time, the 30-year FRM averaged 2.99 percent.
•15-year fixed-rate mortgage averaged 2.16 percent with an average 0.6 point, up slightly last week when it averaged 2.15 percent. A year ago at this time, the 15-year FRM averaged 2.54 percent.
•5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.43 percent with an average 0.3 point, down slightly from last week when it averaged 2.44 percent. A year ago at this time, the 5-year ARM averaged 2.91 percent.
To see today's mortgage interest rates you can visit your mortgage provider or mortgage news information sites such as Mortgage News Daily.