Interest Rates Hit Historic Low

Mortgage rates have stabilized at very low levels over the last few weeks as homebuyer demand slowly improves. Although purchase applications reached a new low in mid-April, today purchase demand is only down ten percent from one year ago. While demand is improving, inventory is low and declining with no signs of a turnaround yet.

Current Mortgage Rates Data Since 1971 xls

Primary Mortgage Market Survey®

U.S. weekly averages as of 05/14/2020

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 Definitions. Borrowers may still pay closing costs which are not included in the survey.

Leave a Reply

Your email address will not be published. Required fields are marked *