According to Freddie Mac’s latest Primary Mortgage Market Survey, the U.S. 30-year fixed-rate mortgage (FRM) averaged 3.13 percent on June 25, 2020.
“After the Great Recession, it took more than ten years for purchase demand to rebound to pre-recession levels, but in this crisis, it took less than ten weeks,” said Sam Khater, Freddie Mac’s Chief Economist. “The rebound in purchase demand partly reflects deferred sales as well as continued interest from prospective buyers looking to take advantage of the low mortgage rate environment.”
Freddie Mac News Facts
- 30-year fixed-rate mortgage averaged 3.13 percent with an average 0.8 point for the week ending June 25, 2020, unchanged from last week. A year ago at this time, the 30-year FRM averaged 3.73 percent.
- 15-year fixed-rate mortgage averaged 2.59 percent with an average 0.8 point, up slightly from last week when it averaged 2.58 percent. A year ago at this time, the 15-year FRM averaged 3.16 percent.
- 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.08 percent with an average 0.5 point, down slightly from last week when it averaged 3.09 percent. A year ago at this time, the 5-year ARM averaged 3.39 percent.
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