The average mortgage rate for a 30-year fixed loan fell two basis points to 2.77%, according to Freddie Mac’s Primary Mortgage Market Survey. Per Housing Wire, that’s 12 basis points above the record low set Jan. 7, rates more closely resemble those seen over two months ago.
The 15-year fixed mortgage rate also shifted downward from 2.23 to 2.21.
Freddie Mac’s quarterly forecast estimates that the average 30-year fixed-rate mortgage will be 2.9% in 2021 and 3.2% in 2022. However, some economists believe a slow upward path for rates is inevitable in 2021.