After tumbling to historic lows throughout the month, the 30-year fixed mortgage rate rebounded slightly heading into the new year.
According to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average ticked up to 2.67 percent with an average 0.7 point. (Points are fees paid to a lender equal to 1 percent of the loan amount and are in addition to the interest rate.) It was 2.66 percent a week ago and 3.72 percent a year ago.
Freddie Mac, the federally chartered mortgage investor, aggregates rates from around 80 lenders across the country to come up with weekly national average mortgage rates. It uses rates for high-quality borrowers with strong credit scores and large down payments. These rates are not available to every borrower.
Find more information here: https://www.washingtonpost.com/business/2020/12/31/mortgage-rates-move-slightly-higher-remain-near-record-lows/