Today's Mortgage Rates
Mortgage rates were mixed this week but mostly moved sideways as concerns about the economic impact of coronavirus COVID-19 are being partially offset by pretty solid U.S. economic data.
Freddie Mac reported today that the average offered rate for a conforming 30-year fixed-rate mortgage rose by two basis points (0.02%), edging upward to 3.47 percent. For conforming 15-year FRMs, rates failed to move at all, holding at an average of 2.97% in the latest survey period, while the initial fixed interest rate for a conforming 5/1 Hybrid ARM took back half of last week's decline, rising four one-hundredths of a percentage point (0.04%) to finish at 3.28% for the period.
In testimony before the Congress this week, Federal Reserve Chairman Jay Powell noted again that the U.S. economy remains in good shape but that the central bank is carefully watching the broad economic impacts of the spreading disease, which remains yet uncontained. He noted that "If developments emerge that cause a material reassessment of our outlook, we would respond accordingly", but for the moment, the current stance of monetary policy "will likely remain appropriate."
We follow and report on the economic conditions that affect mortgage rates and their impact on housing markets and consumers in each week's MarketTrends newsletter. Read the most recent edition on HSH.com or subscribe for email.
Current mortgage rates
| Week | 30-year-Fixed | 15-year-Fixed | 5-year-ARM |
|---|---|---|---|
| 02/13 | 3.470% | 2.970% | 3.280% |
| 02/06 | 3.450% | 2.970% | 3.320% |
| 01/30 | 3.510% | 3.000% | 3.240% |
| 01/23 | 3.600% | 3.040% | 3.280% |
| 01/16 | 3.650% | 3.090% | 3.390% |
| 01/09 | 3.640% | 3.070% | 3.300% |
| 01/02 | 3.720% | 3.160% | 3.460% |
| 12/26 | 3.740% | 3.190% | 3.450% |
| 12/19 | 3.730% | 3.190% | 3.370% |
| 12/12 | 3.730% | 3.190% | 3.360% |
| 12/05 | 3.680% | 3.140% | 3.390% |
| 11/21 | 3.660% | 3.150% | 3.390% |
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Mortgage Choices at a Glance
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Latest Mortgage Rate Analysis
To read the latest edition, click here.
HSH's longer-range outlook for mortgage rates, where we review our last forecast,discuss current market influences and provide our expectations for mortgage rates over the next nine weeks.
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