Mortgage rates hold at record lows

30-year fixed-rate mortgage averages 3.13% for the week ending June 25, 2020, unchanged from the previous week, and down from 3.73% at this time a year ago, according to the Freddie Mac Primary Mortgage Market Survey.

“After the Great Recession, it took more than ten years for purchase demand to rebound to pre-recession levels, but in this crisis, it took less than ten weeks,” said Freddie Chief Economist Sam Khater.

 “The rebound in purchase demand partly reflects deferred sales as well as continued interest from prospective buyers looking to take advantage of the low mortgage rate environment,” he said.

15-year FRM averages 2.59% vs. 2.58% a week ago and 3.16% a year ago.

5-year Treasury-indexed hybrid adjustable-rate mortgage averages 3.08% vs. 3.09% a week earlier and 3.39% a year ago.