30 Year Fixed
3.25%    -0.03
15 Year Fixed
2.72%    -0.02
10YR Treasury
1.62%    -0.0513
Mortgage Rates Lowest in Nearly a Month
April 13, 2021

Slow and steady wins the race, and mortgage rates have been making slow, steady progress back down from recent long-term highs seen at the end of March.  Over that time, the average conventional 30yr fixed rate quote has fallen anywhere from .125 to 0.25% depending on the lender.  That's not a bad move over the course of 2 weeks and especially in an environment where lenders have every right to be defensive.  After all, there have been numerous "false starts" for the sort of winning streak we're currently enjoying.  

Beyond that, with rates so closely tied to covid and the economy, "higher rates in 2021" has been an easy thesis for market watchers.  Anything that runs counter to that will need to bring a compelling explanation.  It's no surprise, then, to see the "pause" of the J&J vaccine in the news this morning just before rates enjoyed another modest drop.  

Be careful though.  These are small scale moves in the bigger picture.  Unless progress against the pandemic is legitimately derailed, we can't count on the good times to stick around for too much longer.  This could even be as simple as the market "taking a break" from the prevailing trend before deciding on the pace and timing of the next move.

30 Year Fixed Rate Mortgage
15 Year Fixed Rate Mortgage
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Today's Rates
Best Execution
Rate Change
30 Yr FRM 3.25% -0.03
15 Yr FRM 2.72% -0.02
FHA 30 Year Fixed 2.75% +0.00
Jumbo 30 Year Fixed 3.32% -0.01
5/1 Yr ARM 2.64% +0.00
Average Mortgage Rates
Rate Points Change
FHFA *
15 Yr. Fixed 0.00% 0.00 +0.00
30 Yr. Fixed 0.00% 0.00 +0.00
MBA **
30 Yr. Fixed 3.48% 0.42 +0.20
15 Yr. Fixed 2.82% 0.40 +0.15
30 Yr. Jumbo 3.53% 0.43 +0.19
30 Yr. FHA 3.47% 0.41 +0.22
5/1 ARM 2.95% 0.44 +0.13
Freddie Mac **
30 Yr. Fixed 3.13% 0.70 -0.05
15 Yr. Fixed 2.42% 0.60 -0.03
1 Yr. ARM 2.68% 0.20 +0.01
5/1 Yr. ARM 2.92% 0.10 +0.08
* FHFA averages are updated monthly.
** Mortgage Bankers Association (each Wednesday) and Freddie Mac (each Thursday) averages are updated weekly.
Secondary Markets
MBS
Price Change
30YR UMBS 2.0 100.70 +0.36
30YR UMBS 2.5 103.31 +0.41
30YR GNMA 2.0 101.78 +0.42
30YR GNMA 2.5 103.33 +0.41
15YR UMBS 2.0 103.17 +0.25
15YR UMBS 2.5 104.34 +0.11
Treasuries
Yield Change
2 YR 0.1609% -0.0079
5 YR 0.8370% -0.0484
10 YR 1.6180% -0.0513
30 YR 2.3000% -0.0379
Prices as of: 4/13/2021 4:18PM EST
MBS and Treasury data provided by Thomson Reuters.
Mortgage News Daily and MBS Live! are exclusive re-distributors of Real Time Thomson Reuters Mortgage Information.
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About This Report
Mortgage News Daily is a trusted source of mortgage rate market data and analysis, with over 1 million readers each month. Unlike many rate surveys, our survey is conducted on a daily basis and is designed to bring you the most current and accurate rate data available.  We use a proprietary formula to calculate averages based on best-execution rates from top lender's rate sheets, also taking into account feedback from hundreds of mortgage market professionals around the country.