U.S. mortgage rates start year with new record low

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U.S. mortgage rates embarked on 2021 hitting yet another historic low, according to Freddie Mac. The 30-year fixed mortgage rate averaged 2.65% for the week ending Jan. 7 — down slightly from 2.67% last week. The 2.65% rate is the lowest since tracking began in 1971. A year ago, mortgage rates stood at 3.64%. Low mortgage rates help propel U.S. home sales and the refinance market. “A new year, a new record low mortgage rate,” said Sam Khater, Freddie Mac’s chief economist. “Despite a…

The Business Journals | Residential Real Estate News

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