Rates remained at record lows during the holiday week.

For the week ending November 25, Freddie Mac announced that 30-year fixed rates remained at 2.72% from the week before. The average for 15-year loans also was steady at 2.28% and the average for five-year ARMs rose to 3.16%. A year ago, 30-year fixed rates averaged 3.68%, almost 1.00% higher than today. "Rates on home loans remain at record lows and while that has fueled a refinance boom, it’s been driven mainly by higher income borrowers. With about 20 million borrowers eligible to refinance, lower-and middle-income borrowers are leaving money on the table by not taking advantage of low rates. On the homebuying side, demand continues to surge, and it has created a seller’s market where inventory is at a record low and home prices are rising, beginning to offset the benefits of the low rates," 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 November 27, 2020