This week's Freddie Mac Primary Mortgage Market Survey found slight change in mortgage rates. The weekly survey found the 30-year fixed rate mortgage averaged 2.80 per cent.
“As the economy works to get back to its pre-pandemic self, and the fight against COVID-19 variants unfolds, owners and buyers continue to benefit from some of the lowest mortgage rates of all-time,” said Sam Khater, Chief Economist at Freddie Mac. “Largely due to the current environment, the 30-year fixed-rate remains below three percent for the fifth consecutive week while the 15-year fixed-rate hits another record low.”
•30-year fixed-rate mortgage averaged 2.80 percent with an average 0.7 point for the week ending July 29, 2021, up from last week when it averaged 2.78 percent. A year ago at this time, the 30-year FRM averaged 2.99 percent.
•15-year fixed-rate mortgage averaged 2.10 percent with an average 0.7 point, down from last week when it averaged 2.12 percent. A year ago at this time, the 15-year FRM averaged 2.51 percent.
•5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.45 percent with an average 0.3 point, down from last week when it averaged 2.49 percent. A year ago at this time, the 5-year ARM averaged 2.94 percent.
For more information regarding the latest market mortgage interest rates, you can visit sites such as Mortgage News Daily or other mortgage information providers, including your mortgage lender. Freddie Mac also provides useful information regarding homebuying.