Mortgage rates stay at all-time lows

 

• 30-year fixed-rate mortgage rate averages 2.71% in the week ending Dec. 10, 2020, unchanged from the prior week and down from 3.73% at this time a year ago, according to the Freddie Mac Primary Mortgage Market Survey.
• "Mortgage rates remain at record lows, resisting their typical correlation to Treasury yields, which have recently been moving higher,” said Freddie Chief Economist Sam Khater. "Mortgage spreads — the difference between mortgage rates and the 10-year Treasury rate — are declining from their elevated levels earlier this year. Although today’s mortgage spread is about 1.8% and still has some room to move down if the 10-year Treasury continues to rise, it’s encouraging to see that the spread is almost back to normal levels."

 

 

 

 

 

 

 

 

 

 

• 15-year FRM averages 2.26%, also unchanged W/W, and compares with 3.19% a year ago.
• 5-year Treasury-indexed hybrid adjustable rate mortgage averages 2.79% vs. 2.86% in the prior week and 3.36% a year ago.