Rates were flat in the past week, staying near their all-time lows.

For the week ending October 8, Freddie Mac announced that 30-year fixed rates fell one tick to 2.87% from 2.88% the week before. The average for 15-year loans increased one tick to 2.37% and the average for five-year ARMs decreased slightly to 2.89%. A year ago, 30-year fixed rates averaged 3.57%, .70% higher than today. "The year-long slide in rates on home loans seems to be ending as rates have flattened over the last month and the economic rebound has slowed. But with near record low rates, buyer demand remains robust with strong first-time buyers coming into the market. The demand is particularly strong in more affordable regions of the country such as the Midwest, where home prices are accelerating at the highest rates over the last two decades," said Sam Khater, Chief Economist, Freddie Mac.

Note: Rates indicated do not include fees and points and are provided for evidence of trends only. They should not be used for comparison purposes.

Current Indices for Adjustable Rate Mortgages
Updated October 9, 2020