While average mortgage rates have generally declined over the past few weeks, the 30-year, fixed-rate mortgage rose from last week’s 2.78% to 2.80%.

MCLEAN, Va. – Average mortgage rates rose a little bit this week, according to Freddie Mac’s weekly Primary Mortgage Market Survey. The most popular 30-year, fixed-rate mortgage averaged 2.80%.

“As the economy works to get back to its pre-pandemic self, and the fight against COVID-19 variants unfolds, owners and buyers continue to benefit from some of the lowest mortgage rates of all-time,” says Sam Khater, Freddie Mac’s chief economist. “Largely due to the current environment, the 30-year fixed-rate remains below 3% for the fifth consecutive week, while the 15-year fixed-rate hits another record low.”

Average mortgage rates for the week of July 29, 2021

  • The 30-year fixed-rate mortgage averaged 2.80% with an average 0.7 point, up from last week’s 2.78%. A year ago, it averaged 2.99%.
  • The 15-year fixed-rate mortgage averaged 2.10% with an average 0.7 point, down from last week’s 2.12%. A year ago, the 15-year FRM averaged 2.51%.
  • The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.45% with an average 0.3 point, down from last week’s 2.49%. A year ago, it averaged 2.94%.

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Author: kerrys