The 30 year fixed mortgage rate average has fallen below 3% for the first time in at least 50 years, according to Freddie Mac on Thursday. More details:
⏩ 30-year fixed-rate mortgage averaged 2.98 percent with an average 0.7 point for the week ending July 16, 2020, down from 3.03 percent. A year ago at this time, the 30-year FRM averaged 3.81 percent.
⏩ 15-year fixed-rate mortgage averaged 2.48 percent with an average 0.7 point, down from last week when it averaged 2.51 percent. A year ago at this time, the 15-year FRM averaged 3.23 percent.
⏩ 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.06 percent with an average 0.3 point, up slightly from last week when it averaged 3.02 percent. A year ago at this time, the 5-year ARM averaged 3.48 percent.
For more information and to begin your home search, contact Jason Taub – Realtor® in Fort Lauderdale, Florida.
Source: Angela Waugaman, Freddie Mac
