Mortgage Rates Slide to Historic Lows

The 30-year fixed rate mortgage rate sank to 2.66% with an average 0.7 point, or fee paid to the lender equal to 1% of the loan, according to the latest data released by Freddie Mac.

The 30-year fixed rate has never been this low since Freddie Mac began tracking mortgage rates in 1971. It surpassed the previous low of 2.67 percent set last week. Since the start of 2020, the 30-year rate has fallen more than a percentage point, going from 3.72 percent in January to 2.66 percent this week.

The 15-year fixed-rate average dropped to 2.19 percent with an average 0.5 point. It was 2.21 percent a week ago and 3.19 percent a year ago. The five-year adjustable rate average was unchanged at 2.79 percent with an average 0.2 point. It was 3.45 percent a year ago.

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