Long-term mortgage rates ended 2020 just above their all-time record lows.
Freddie Mac announced 2.67 percent as the average on a 30-year mortgage on New Year's Eve, one basis point higher than the all-time record low of 2.66 percent.
“Heading into 2021 we expect rates to remain flat, potentially rising modestly off their record low, but solid purchase demand and tight inventory will continue to put pressure on housing markets as well as house price growth,” Freddie Mac's Sam Khater said in a release.
The UrbanTurf Mortgage Rate Disclaimer: The rates reported by Freddie Mac for 30-year mortgages are usually the best rates that the most qualified borrowers can get, so borrowers or those considering refinancing should not necessarily read this news and think that they can go out and get a loan with the quoted interest rate.
This article originally published at https://dc.urbanturf.com/articles/blog/mortgage-rates-end-2020-just-above-record-lows/17704.
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