Mortgage Rates Are Actually LOWER This Week

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30 Year Fixed

                                  3.31%
                                    
                                  -0.02

15 Year Fixed

                                  2.78%
                                    
                                  -0.01

10YR Treasury

                                  1.62%
                                    
                                  +0.0107

View Today's Rates

Mortgage Rates Are Actually LOWER This Week

March 25, 2021

It's no secret that 2021 has been a rough year for mortgage rates so far. They've moved higher on all but a few weeks, and exclusively higher if we only count the past 8 weeks (something that hasn't happened in more than a decade, even though there are a few instances of bigger moves overall). In fact, it was that record-tying streak of "bad weeks" that served as the foundation for hope heading into the current week (as discussed here on Monday). In other words, rates have had such a bad run that they were increasingly due to catch a break. Granted, we still have another day to get through, but as of today, this week is very much on track to break the cycle.

Yes, rates are LOWER--not just today, but versus the end of last week as well. That's an assertion that runs counter to most media coverage of mortgage rates today. Why the discrepancy? Because most media coverage is wrong, just like it was wrong last Thursday. It's not that the stories in question are failing to report the facts. They're simply relying on mortgage rate data that runs the risk of being extremely stale (if not outright misleading) during times of elevated volatility. Here's how it panned out last week.

The shoe is on the other foot today. Just as Freddie Mac's mortgage rate survey is getting caught up to last week's rate spike, the current week is taking things back in the other direction. Bottom line, rates are NOT up 0.8% this week. They're actually down by roughly an eighth of a percent for the average lender, thus falling back in line with levels seen on March 12th.

30 Year Fixed Rate Mortgage

15 Year Fixed Rate Mortgage

Today's Rates

Best Execution

Rate

Change

30 Yr FRM

3.31%

-0.02

15 Yr FRM

2.78%

-0.01

FHA 30 Year Fixed

2.84%

-0.01

Jumbo 30 Year Fixed

3.33%

+0.00

5/1 Yr ARM

2.72%

-0.01

Current Mortgage Rates »

What are best-execution rates?

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

3.17%

0.70

+0.08

15 Yr. Fixed

2.45%

0.60

+0.05

1 Yr. ARM

2.68%

0.20

+0.01

5/1 Yr. ARM

2.84%

0.20

+0.05

Current Mortgage Rates »

* 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

100.19

+0.03

30YR UMBS 2.5

102.98

+0.06

30YR GNMA 2.0

101.09

+0.02

30YR GNMA 2.5

103.02

-0.09

15YR UMBS 2.0

102.84

+0.06

15YR UMBS 2.5

104.16

+0.09

Treasuries

Yield

Change

2 YR

0.1367%

-0.0137

5 YR

0.8235%

+0.0094

10 YR

1.6244%

+0.0107

30 YR

2.3428%

+0.0279

Prices as of: 3/25/2021 3:40PM EST

Current MBS / Treasury Prices »

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.

Secondary Marketing Managers:
If you are interested in gaining access to the most accurate real-time back-month TBA indications from Thomson Reuters and Tradeweb. Request More Information

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.

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