Weekly Rate Update Rates fluctuate everyday and are based on several factors. For an exact…
Nebraska Mortgage Rates | February 5 2021
Weekly Rate Update
Rates fluctuate everyday and are based on several factors. For an exact rate quote, submit your request HERE for a free evaluation.
PMMS 2/4/2021
The average mortgage rate for a 30-year fixed loan remained unchanged last week from the week prior at 2.73%. With mortgage rates hovering below 3% for over six months now, Sam Khater, Freddie Mac’s chief economist, said this may be a sign of an economy still struggling.
“This rate environment is advantageous for those who are looking to refinance in order to strengthen their financial position,” Khater said. “While many have already refinanced, the evidence suggests that upper-income homeowners have taken advantage of the opportunity more so than lower-income homeowners who could stand to benefit the most by lowering their monthly mortgage payment.”
MBA 2/3/2021
The 30-year fixed mortgage rate saw a slight drop, down to 2.92% after hitting a three-month high last week of 2.95%. Historically low mortgage rates became the norm in 2020 due to the COVID-19 pandemic and economic recession. As rates begin to creep up closer to 3% in recent weeks, the number mortgage applications had begun to slip before last week’s jump.
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