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Apr 12, 2024 · By July 2020, the 30-year fixed rate fell below 3% for the first time. And it kept falling to a new record low of just 2.65% in January 2021. The average mortgage rate for that year was...
- Contributor
Nov 22, 2023 · A Flourish chart. When mortgage rates fell to record lows in the early 2020s, millions of homeowners took the opportunity to refinance to a sub-3% rate. A June 2023 study by the real estate...
- Erika Giovanetti
- Loans Expert And Reporter
- What's the Lowest Mortgage Rate in History?The average 30-year fixed mortgage rate reached an all-time record low of 2.65% in January 2021, according to Freddie Mac. Starting in March 2020,...
- What's the Highest Mortgage Rate in History?From 1971 to present, the highest average mortgage rate ever recorded was 18.63% in October 1981. Mortgage rates held steady above 18% in the two-m...
- Will Mortgage Rates Ever Fall Below 3% Again?It's safe to say that the sub-3% mortgage rates observed during the COVID-19 pandemic were an anomaly. Besides the fact that the Fed held the bench...
- When Will Mortgage Rates Go Down?Our latest mortgage forecast finds that rates are likely to decline during the fall and winter months of 2023, but they aren't expected to drop bel...
- Why Are Mortgage Rates So High Right Now?Today's high mortgage rates are a byproduct of the Fed's battle against inflation. Fed officials have raised the benchmark rate 11 times since 2022...
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In the week of March 5, 2020, it reached a new record low of 3.29%. In April and May of 2020, the rate fell even lower. As of writing the historical low rate of 3.13% was reached in the week of June 18, 2020. © 2020 Freddie Mac . www.freddiemac.com.
Jul 6, 2020 · With mortgage rates reaching a then-historical low in March of 2020, 1 mortgage refinancing activity surged at the end of the first quarter of 2020 (Exhibit 1). There were nearly $400 billion in single-family first lien refinances in inflation-adjusted 2019 dollars.
4 days ago · On a national average, the lowest rate was 6.94% for the last year. Keep in mind that mortgage rates in general have more than doubled since the start of 2022. Related: Mortgage Rates Forecast...
Current Mortgage Refinance Rates. By Kim Porter. |. Edited by Ali Cybulski. |. Reviewed by Erika Giovanetti. |. Updated: Apr 25, 2024. As of April 24, 2024, the average mortgage refinance APR...
