New Record Lows

October 21, 2020
New Record Lows
Rates hit another all-time low in the past week – the 10th record low hit this year.


For the week ending October 15, Freddie Mac announced that 30-year fixed rates fell to 2.81% from 2.87% the week before. The average for 15-year loans decreased to 2.35% and the average for five-year ARMs increased slightly to 2.90%. A year ago, 30-year fixed rates averaged 3.69%, more than .75% higher than today. "Low rates on home loans have become a regular occurrence in the current environment. As we hit yet another record low, the tenth record this year, many people are benefitting as refinance activity remains strong. However, it's important to remember that not all people are able to take advantage of low rates given the effects of the pandemic," 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 16, 2020


Daily Value

Monthly Value


October 15


6-month Treasury Security



1-year Treasury Security



3-year Treasury Security



5-year Treasury Security



10-year Treasury Security



12-month LIBOR


0.360% (Sep)

12-month MTA


0.744% (Sep)

11th District Cost of Funds


0.529% (Aug)

Prime Rate


3.25% (March)