Mortgage rates were barely up for the week, according to the latest data from Freddie Mac…(FM)
- 30-YR FIXED: Averaged 3.11% which is up one basis point from last week and is up 40 basis points from the same time one year ago.
- 15-YR FIXED: Averaged 2.39% which is down 3 basis points for the week but is still 13 basis points higher than the same time one year ago.
Sam Khater, Freddie Mac’s Chief Economist, said rates are holding as uncertainty remains about COVID’s ongoing impact on the economy…
- “The consistency of rates in the face of changes in the economy is primarily due to the evolution of the pandemic, which lingers and continues to pose uncertainty. This low mortgage rate environment offers favorable conditions for refinancing.”