Mortgage Rates Remain Flat for the Second Consecutive Week

MCLEAN, Va., Feb. 11, 2021 (GLOBE NEWSWIRE) -- (OTCQB: FMCC) today released the results of its

“It’s a tale of two economies. The services economy remains in the doldrums, but the production side of the economy remains strong,” said Sam Khater, Freddie Mac’s Chief Economist. “New COVID-19 cases are receding, which is encouraging and that has led to a rise in Treasury rates. But, the run-up in Treasury rates has not impacted mortgage rates yet, which have held firm.”

Khater continued, “The residential real estate market remains solid given healthy purchase demand while implied real-time home price growth is high, due to the inventory shortage that is plaguing the housing market.”

News Facts

• averaged 2.73 percent with an average 0.7 point for the week ending February 11, 2021, unchanged from last week. A year ago at this time, the 30-year FRM averaged 3.47 percent.
• averaged 2.19 percent with an average 0.6 point, down from last week when it averaged 2.21 percent. A year ago at this time, the 15-year FRM averaged 2.97 percent.
• (ARM) averaged 2.79 percent with an average 0.2 point, up slightly from last week when it averaged 2.78 percent. A year ago at this time, the 5-year ARM averaged 3.28 percent.
  
  

The PMMS is focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put 20 percent down and have excellent credit. Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage. Visit the following link for the . Borrowers may still pay closing costs which are not included in the survey.

Freddie Mac makes home possible for millions of families and individuals by providing mortgage capital to lenders. Since our creation by Congress in 1970, we’ve made housing more accessible and affordable for homebuyers and renters in communities nationwide. We are building a better housing finance system for homebuyers, renters, lenders, investors and taxpayers. Learn more at , Twitter and Freddie Mac’s blog .

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A photo accompanying this announcement is available at