Now is the time to refinance. Photo: Getty.
Real estate dominated the headlines this year with foreclosure moratoriums, forbearance programs and the seemingly endless decrease of mortgage interest rates. Now, on the last day of the year, the latest report from Freddie Mac shows mortgage interest rates increased just barely to 2.67%, only one basis point up from last week when they were at the lowest they have ever been. One year ago rates were 3.72% for a 30-year, fixed rate loan so they have fallen more than one full percentage point in just 12 months.
Rates for a 15-year loan did decrease over the past week, down to 2.17% from their previous low of 2.19%.
The interest rate tumble of 2020. Photo: FreddieMac