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Mortgage Rates

Mortgage Rates Continue to Trend Down

October 22, 2020

Mortgage rates remain very low, providing homeowners who have not already taken advantage of this environment ample opportunity to do so. Mortgage rates today are on average more than a full percentage point lower than rates over the last five years. This means that most low- and moderate-income borrowers who purchased during the last few years stand to benefit by exploring refinancing to lower their monthly payment.

Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage. Visit the following link for the Definitions. Borrowers may still pay closing costs which are not included in the survey.


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