As summer winds down and cooler weather makes its way to Mid-Missouri, the real estate market enters a new season, too. Fall buyers are often thinking beyond summer curb appeal and backyard.
Mortgage Rates Hold at 2.73% Average for Another Week
Dated: February 10 2021
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Mortgage Rates Hold at 2.73% Average for Another Week
The 30-year fixed-rate mortgage continued to hover near its all-time low, offering low borrowing costs to home shoppers and refinancers. The 30-year fixed-rate mortgage averaged 2.73% again this week; it’s all-time low was 2.65%, which was set in early January, Freddie Mac reports.
“Mortgage rates remained flat this week and near record lows, signifying an economy that continues to struggle,” says Sam Khater, Freddie Mac’s chief economist. “This rate environment is advantageous for those who are looking to refinance in order to strengthen their financial position. While many have already refinanced, the evidence suggests that upper-income homeowners have taken advantage of the opportunity more so than lower-income homeowners who could stand to benefit the most by lowering their monthly mortgage payment.”
Freddie Mac reports the following national averages with mortgage rates for the week ending Feb. 4:
- 30-year fixed-rate mortgages: averaged 2.73%, with an average 0.7 point, unchanged from last week. Last year at this time, 30-year rates averaged 3.45%.
- 15-year fixed-rate mortgage: averaged 2.21%, with an average 0.6 point, rising slightly from last week’s 2.20% average. A year ago, 15-year rates averaged 2.97%.
- 5-year hybrid adjustable-rate mortgages: averaged 2.78%, with an average 0.3 point, dropping from last week’s 2.80% average. A year ago, 5-year ARMs averaged 3.32%.
Freddie Mac reports average commitment rates with average points to reflect the total upfront costs of obtaining a mortgage.
Source:
Freddie Mac and “Instant Reaction: Mortgage Rates, February 4, 2021,” National Association of REALTORS® Economists’ Outlook blog (Feb. 4, 2021)
Alana Nyhart
I serve as the Director of Marketing for Weichert, Realtors® – House of Brokers, where I lead our brand strategy, agent marketing, company events, and community engagement efforts. My passio....
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All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data relating
All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data relating
All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data relating
