Great evening with Mr. Priyavrata Mafatlal Vice-Chairman at Arvind Mafatlal Group, thanks for his inspirational talk on fifth generation corporate experiences and innovative challenges. Delighted to be part of Startup Saturdays from Startup ME, an idea of Siby Sudhakaran Sec. General IBPC. Impressive startups journey briefs. Thanks everyone related.
The 30-year fixed-rate mortgage averaged 5.27% for the week ending May 5, according to data released by Freddie Mac FMCC, -0.46% on Thursday. That’s up 17 basis points from the previous week — one basis point is equal to one hundredth of a percentage point, or 1% of 1%
Throughout 2020, mortgage rates dropped to all-time lows on more than a dozen occasions.
Mortgage rates have closed out 2020 around the lowest levels on record. But those looking to lock-in this cheap financing shouldn’t wait on the sidelines for too long.
The 30-year fixed-rate mortgage averaged 2.67% for the week ending Dec. 31, up a basis point from the new record low of 2.66% set the week prior, Freddie Mac FMCC,+0.87%reported Thursday.
Meanwhile, the 15-year fixed-rate mortgage dropped two basis points to an average of 2.17%, representing a record low for that mortgage product. The 5-year Treasury-indexed hybrid adjustable-rate mortgage fell by eight basis points to 2.71%.
“With 2020 wrapping up, we can look back on a year where low mortgage rates served as a potent fuel, driving activity and offering buyers access to a home,” said George Ratiu, senior economist at Realtor.com.