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If you bought a $250,000 home and made a 20% down payment - $50,000 - you would end up with a starting loan balance of $200,000. The rate on your mortgage can make a big difference in how much home you can afford and the size of your monthly payments. Today’s mortgage rates and your monthly payment The average rate was 2.84% the same week last year. The current rate on a 5/1 adjustable-rate mortgage is 3.50% with 0.3 points paid, 0.14 percentage points higher than last week.The current rate for a 15-year fixed-rate mortgage is 3.83% with 0.8 points paid, up by 0.20 percentage points week-over-week.The average 30-year rate was 3.18% during the same week last year. The current rate for a 30-year fixed-rate mortgage is 4.67% with 0.8 points paid, an increase of 0.25 percentage points from the previous week.(Money's list of the Best Mortgage Lenders is a good place to start.) If you are offered a rate that is higher than you expect, make sure to ask why and compare offers from multiple lenders. Keep in mind that available rates vary by lender and change constantly. On the other hand, Money's daily mortgage rate survey is based on the previous day's lending activity and represents the average rate a borrower with a 700 credit score and 20% down should expect. Borrowers with lower credit scores will generally be offered higher rates. The average rate represents roughly the rate a borrower with strong credit and a 20% down payment can expect to see when applying for a mortgage right now. At the start of 2022 the average 30-year rate was 3.22%Īverage rates for both 15-year fixed-rate mortgages and the 5/1 adjustable-rate mortgages are also substantially higher than they were a week ago.įor its rate survey, Freddie Mac looks at rates offered for the week ending each Thursday. Rates are up a quarter of a percentage point in just one week and half a percentage point over the last two weeks.
#Current freddie mac interest rates update
These assumptions, judgments, estimates, and factors are discussed in the company's Annual Report on Form 10-K for the year ended December 31, 2021, which is available on the Investor Relations page of the company's website at and the SEC's website at The company undertakes no obligation to update forward-looking statements it makes to reflect events or circumstances occurring after the date of this press release.The average rate on a 30-year fixed-rate mortgage reached 4.67% this week, according to Freddie Mac's latest survey. government (including FHFA, Treasury, and Congress) and state and local governments, and the impacts of legislation or regulations and new or amended accounting guidance, could cause actual results to differ materially from these expectations. Management's expectations for the company's future necessarily involve a number of assumptions, judgments, and estimates, and various factors, including changes in market conditions, liquidity, mortgage spreads, credit outlook, uncertainty about the duration, severity, and effects of the COVID-19 pandemic and actions taken in response thereto, actions by the U.S. Forward-looking statements involve known and unknown risks and uncertainties, some of which are beyond the company's control. This press release contains forward-looking statements, which may include statements pertaining to the conservatorship, the company's current expectations and objectives for its Single-Family and Multifamily segments, its efforts to assist the housing market, liquidity and capital management, economic and market conditions and trends, the effects of the COVID-19 pandemic and actions taken in response thereto on its business, financial condition, and liquidity, its market share, the effect of legislative and regulatory developments and new accounting guidance, credit quality of loans the company owns or guarantees, the costs and benefits of the company's CRT transactions, and results of operations and financial condition.