Please ensure Javascript is enabled for purposes of website accessibility
US Long-Term Mortgage Rates Hit New Lows; 30-Year at 2.65%
gvw_ap_news
By Associated Press
Published 4 years ago on
January 7, 2021

Share

WASHINGTON — U.S. long-term mortgage rates declined this week to new record lows for the first week of 2021.

The year opens against the continuing backdrop of damage from the coronavirus pandemic on the U.S. and global economies, which suppressed home loan rates through most of 2020.

Mortgage buyer Freddie Mac reported Thursday that the average rate on the benchmark 30-year fixed-rate home loan slipped to 2.65% from 2.67% from last week. By contrast, the rate stood at 3.64% a year ago.

The average rate on 15-year fixed-rate loans, popular among homeowners seeking to refinance their mortgages, ticked down to 2.16% from 2.17%.

Mortgage rates are set to rise modestly this year as economic factors shift, according to Freddie Mac chief economist Sam Khater. The record-low lending rates have helped push buyers into the housing market, but a lack of available homes has left many would-be homebuyers empty-handed. The lack of supply has pushed prices up even before the pandemic struck last March.

A continued rise in home prices could intensify the squeeze on potential purchasers during the spring homebuying season, Khater says.

RELATED TOPICS:

DON'T MISS

What Are Fresno Real Estate Experts Predicting for 2025 and Beyond?

UP NEXT

‘We Will Kill You Dead’: Florida Sheriff’s Stark Warning to Demonstrators

Spyware From US-Backed Israeli Firm Targeted European Journalists, Report Finds

27 minutes ago

Israel’s War of Choice With Iran Puts Trump in a Bind

33 minutes ago

Madera Man Sentenced to Over 21 Years for Fentanyl, Meth Trafficking

A Madera man was sentenced Monday to more than 21 years in federal prison for trafficking fentanyl and methamphetamine, federal prosecutors ...

2 minutes ago

The crest of the United States Department of Justice (DOJ) is seen at their headquarters in Washington, D.C., U.S., May 10, 2021. REUTERS/Andrew Kelly/File photo
2 minutes ago

Madera Man Sentenced to Over 21 Years for Fentanyl, Meth Trafficking

6 minutes ago

Touring a Tunnel That Leads Underneath a Hospital in Southern Gaza

Flowers and hand-written messages sit at a memorial outside the Minnesota State Capitol in honor of Democratic state assemblywoman Melissa Hortman and her husband Mark, after a gunman killed them, in St. Paul, Minnesota, U.S., June 15, 2025. (Reuters/Tim Evans)
8 minutes ago

Suspect in Minnesota Lawmaker Killing Visited Other Legislators’ Homes, Prosecutors Say

Spyware from U.S.-backed Israeli firm Paragon Solutions was used to target prominent European journalists’ phones, raising concerns about government surveillance and commercial spyware abuse. (Shutterstock)
27 minutes ago

Spyware From US-Backed Israeli Firm Targeted European Journalists, Report Finds

President Donald Trump speaks as he attends a military parade to commemorate the U.S. Army's 250th Birthday, on the day of his 79th birthday, in Washington, D.C., U.S., June 14, 2025. REUTERS/Carlos Barria/File Photo
33 minutes ago

Israel’s War of Choice With Iran Puts Trump in a Bind

The Oak Fire near Morgan Canyon Road and Country Oak Lane in Prather remains active at 46% containment, burning 14 acres with 45 personnel working alongside multiple air tankers to strengthen containment lines. (CalFire)
40 minutes ago

Prather’s Oak Fire Active in Fresno County, 46% Contained

Gilberto Lopez Mendez, 23, was arrested after pistol-whipping and shooting a victim in the leg near Dinuba on , with deputies recovering a converted fully automatic firearm. (Tulare County SO)
59 minutes ago

Tulare County Authorities Arrest Man in Dinuba Shooting

Fresno police have arrested Scott Alvarado, 41, in the shooting death of Nicholas Bolanos, 33, on Friday, June 13, 2025. (Fresno PD)
1 hour ago

Fresno Murder Suspect Arrested in Madera County Following Shooting

Help continue the work that gets you the news that matters most.

Search

Send this to a friend