December 10, 2020
Mortgage rates remain at record lows, resisting their typical correlation to Treasury yields, which have recently been moving higher. Mortgage spreads – the difference between mortgage rates and the 10-year Treasury rate – are declining from their elevated levels earlier this year. Although today’s mortgage spread is about 1.8 percentage points and still has some room to move down if the 10-year Treasury continues to rise, it’s encouraging to see that the spread is almost back to normal levels.

Information provided by Freddie Mac.

December 3, 2020
Despite persistently low mortgage rates, home sales have hit a wall. While homebuyer appetite remains robust, the scarce inventory has effectively put a limit on how much higher sales can increase. Unfortunately, the record low supply combined with strong demand means home prices are rapidly escalating and eroding the benefits of the low mortgage rate environment.

Information provided by Freddie Mac.

November 25, 2020
Mortgage rates remain at record lows and while that has fueled a refinance boom, it’s been driven mainly by higher income borrowers. With about 20 million borrowers eligible to refinance, lower-and middle-income borrowers are leaving money on the table by not taking advantage of low rates. On the homebuying side, demand continues to surge, and it has created a seller’s market where inventory is at a record low and home prices are rising, beginning to offset the benefits of the low rates.

Information provided by Freddie Mac.

November 19, 2020
Weaker consumer spending data, which accounts for the majority of economic growth, drove mortgage rates to a new record low. While economic growth remains unstable, strong housing demand continues to have a domino effect on many other segments of the economy.

Information provided by Freddie Mac.

November 5, 2020
Mortgage rates hit another record low, the twelfth time this year, due to economic and political ambiguity. Despite the uncertainty that we’ve all experienced this year, the housing market, buoyed by low rates, continues to be a bright spot.

Information provided by Freddie Mac.