(310) 569-1335

the collective Realty

the collective, REALTY Blog

Mortgage Rates in August

Posted on August 19, 2020 by Anthony Vulin in Beverly Hills, Glendale, Hollywood Hills, Market Update, Real Estate, Santa Monica, Silver Lake, Uncategorized, West Hollywood

According to Freddie Mac’s latest Primary Mortgage Market Survey, the 30-year fixed-rate mortgage averaged 2.96 percent in mid-August 2020.


“Homebuyer demand remains strong, especially for those in search of an entry-level home where the improvement in affordability via lower mortgage rates has a material impact,” said Sam Khater, Freddie Mac’s Chief Economist. “Even with this week’s uptick, very low rates are providing a significant boost to the housing market that continues to hold up well during this time of uncertainty.”

Freddie Mac News Facts

  • 30-year fixed-rate mortgage averaged 2.96 percent with an average 0.8 point for the week ending August 13, 2020, up from last week when it averaged 2.88 percent. A year ago at this time, the 30-year FRM averaged 3.60 percent.  
  • 15-year fixed-rate mortgage averaged 2.46 percent with an average 0.8 point, up from last week when it averaged 2.44 percent. A year ago at this time, the 15-year FRM averaged 3.07 percent.  
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.90 percent with an average 0.4 point, unchanged from last week. A year ago at this time, the 5-year ARM averaged 3.35 percent


0 comments

Leave A Comment