Freddie Mac has released its Primary Mortgage Market Survey (PMMS) for the week ending October 8th, 2020. The PMMS shows that 30-year fixed-rate mortgage averaged 2.87% with an average 0.8 point, slightly down from last week when it averaged 2.88%. A year ago, at this time, the 30-year FRM averaged 3.57%. The 15-year fixed-mortgage averaged 2.37% with an average 0.7 point, slightly up from last week when it averaged 2.36%. A year ago, at this time, the 15-year FRM averaged 3.05%. Freddie Mac’s Chief Economist Sam Khater said in prepared remarks that “The year-long slide in mortgage rates seems to be ending as rates have flattened over the last month and the economic rebound has slowed”.
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Mortgage Rates Remain Flat