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Average 30-year mortgage rate for purchase loans falls to another all-time low

30-year fixed loan now 5 basis points below the original record set in September

The average U.S. mortgage rate for a 30-year fixed loan fell to 2.81% this week, the lowest in Freddie Mac’s survey history, the mortgage giant said in a report on Thursday. The rate fell six basis points from the week prior and is now five basis points lower than the original all-time low set in mid-September.

The average fixed rate for a 15-year mortgage was 2.35%, falling from last week’s 2.37% — matching the record set three weeks ago.

There have now been 12 consecutive weeks when average mortgage rates have been below 3% and this is the tenth record broken this year, said Sam Khater, Freddie Mac’s chief economist.

“Low mortgage rates have become a regular occurrence in the current environment,” Khater said. “Many people are benefitting as refinance activity remains strong. However, it’s important to remember that not all people are able to take advantage of low rates given the effects of the pandemic.”


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Although mortgage applications fell seven basis points last week, purchase applications have now boasted 21 weeks of year-over-year gains.

In September, the Federal Reserve predicted that rates will remain low through 2023.

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