Mortgage Rates Fractionally Lower in Week Ending October 8th, 2020

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”.