Interest Rates
at Record-Lows in 2020

DID YOU KNOW? In 1980 interest rates were at an all time high of 16.63%. Today they are 3.45%

The average contract interest rate for 30-year fixed-rate mortgages fell from to 3.45% from 3.73% this week.  The rate on the 15-year — a popular refinance option — fell to 2.95%, its lowest level since November 2016. That drop caused a 26% surge in weekly refinancing applications. Compared with one year ago, refinance volume was nearly 224% higher. 

February 2019 - February 2020

Rate shown is the rate on a 30-year fixed-rate mortgage on a prime conventional, conforming loan with an LTV of no more than 80%. Fees and points associated with these rates are not shown. The average fees and points charged with these rates from 2009 forward has been 0.62 points. One point represents one percent of the loan amount. These are historical industry figures and don’t necessarily reflect rates offered by WFHM. PMMS data is provided “as is,” with no warranties of any kind, express or implied, including, but not limited to, warranties of accuracy or implied warranties of merchantability or fitness for a particular purpose. Use of the data is at the user’s sole risk.