Rates fell back a bit after rising moderately the week before.

For the week ending January 21, Freddie Mac announced that 30-year fixed rates eased to 2.77% from 2.79% the week before. The average for 15-year loans also decreased to 2.21% and the average for five-year ARMs fell sharply to 2.80%. A year ago, 30-year fixed rates averaged 3.60%, more than 0.75% higher than today. "Mortgage rates have hovered near historic lows for almost a year, fueling purchase and refinance activity amid a global health crisis. We’re now seeing rates fluctuate a bit as political and economic factors drive Treasury yields higher. However, we forecast rates to remain relatively low this year as the Federal Reserve keeps interest rates anchored near zero for a longer period of time -- if needed until the economy rebounds," 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 Rates
Updated January 22, 2021