{"id":4607,"date":"2021-01-07T15:07:14","date_gmt":"2021-01-07T21:07:14","guid":{"rendered":"https:\/\/nwfl4sale.com\/new-year-new-record-low-mortgage-rate-2-65\/"},"modified":"2021-01-07T15:07:14","modified_gmt":"2021-01-07T21:07:14","slug":"new-year-new-record-low-mortgage-rate-2-65","status":"publish","type":"post","link":"https:\/\/nwfl4sale.com\/new-year-new-record-low-mortgage-rate-2-65\/","title":{"rendered":"New Year, New Record-Low Mortgage Rate: 2.65%"},"content":{"rendered":"
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The pandemic pushed mortgage rates lower in 2020 and kept doing so this first week of 2021. The 30-year, fixed-rate is down from last week\u2019s 2.67% and last year\u2019s 3.64%.<\/span><\/span><\/p>\n<\/div>\n WASHINGTON (AP) \u2013 U.S. long-term mortgage rates declined this week to new record lows for the first week of 2021.<\/span><\/span><\/p>\n The year opens against the continuing backdrop of damage from the coronavirus pandemic on the U.S. and global economies, which suppressed home loan rates through most of 2020.<\/span><\/span><\/p>\n Mortgage buyer Freddie Mac reported Thursday that the average rate on the benchmark 30-year fixed-rate home loan slipped to 2.65% from 2.67% from last week. By contrast, the rate stood at 3.64% a year ago.<\/span><\/span><\/p>\n The average rate on 15-year fixed-rate loans, popular among homeowners seeking to refinance their mortgages, ticked down to 2.16% from 2.17%.<\/span><\/span><\/p>\n Mortgage rates are set to rise modestly this year as economic factors shift, according to Freddie Mac chief economist Sam Khater. The record-low lending rates have helped push buyers into the housing market, but a lack of available homes has left many would-be homebuyers empty-handed. The lack of supply had pushed prices up even before the pandemic struck last March.<\/span><\/span><\/p>\n A continued rise in home prices could intensify the squeeze on potential purchasers during the spring homebuying season, Khater says.<\/span><\/span><\/p>\n