Mortgage Rates Remain Flat According to Freddie Mac

December 16, 2020

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Mortgage Rates Remain Flat

Freddie Mac reports each Thursday on mortgage rates and comments on rate movement.

“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.”

See the full chart here

Mortgage rates remain flat - according to Freddie Mac


Mortgage Rates 12 10 2020

Freddie Mac Primary Mortgage Survey

Purchase Mortgage Applications in 2020

The amount new purchase mortgage applications has consistently been up over 20% over where it was compared to activity in the same period in 2019. The chart below depicts the purchase applications for new home purchases not refinancing of existing mortgages.  You will see the activity has been consistently hovering at 20% over where it was last year. As we go into 2021, housing seems to continue to lead the economy out the any economic downturn.

Mortgage Purchase Applications