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30-year Mortgages Hit Lowest Point

February 10, 2020 by Nick & Cindy Davis

U.S. long-term mortgage rates fell this past week for the third straight week, as the benchmark 30-year loan marked its lowest point in 36 months.

Mortgage buyer Freddie Mac said Thursday the average rate for the 30-year fixed-rate mortgage declined to 3.45% from 3.51% last week. The key rate stood at 4.41% a year ago.

 

30-year Mortgages Hit Lowest Point in 3 Years

30-year Mortgages Hit Lowest Point in 3 Years

 

The average rate on a 15-year mortgage eased to 2.97% from 3% last week.

The historically low rates are actually an advantage for potential home-buyers. A positive outlook originates from signs of strength in the U.S. economy recently and expectations that the global economy could begin to expand faster after being held back by trade conflicts.

Federal Reserve policymakers continued to hold home interest rates low at their latest meeting last week. However the Fed chair warned that the viral outbreak in China poses a new threat to the strengthening global economy.

Freddie Mac surveys lenders nationwide between Monday and Wednesday each week to compile its mortgage rate figures. The average doesn’t include extra fees, referred to as points, which most borrowers must pay to obtain the lowest rates.

The average fee on 30-year fixed-rate mortgages was unchanged from last week at 0.7 point. The average fee for the 15-year mortgage also remained at 0.7 point.

The average rate for a five-year adjustable-rate mortgage rose to 3.32% from 3.24% last week. The fee slipped to 0.2 point from 0.3 point.

Ready to find your new home here in the Tampa Bay and Surrounding Areas? Nick, Cindy & Nicholas Davis with RE/MAX Premier Group are here to assist you with all your Real Estate Needs. We are always available at 813-300-7116 to answer your questions or you can simplyย click here and we will be in touch with you shortly.

Need to get started with your mortgage process? You can contact Kyle Edwards with Iberia Bank at 813-495-5131, or simply click here to start your online application.

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All Homes For Sale in & Around Tampa

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  • 1321 Mcclellan Road, Frostproof, FL
    1321 Mcclellan Road
    Frostproof, FL
    Photo of 1321 Mcclellan Road, Frostproof, FL 33843 (MLS # TB8424919)
    $270,000
    • Lot Size
      3.66 ac

    • Home Size
      1,216 sqft

    • Beds
      3 Beds

    • Baths
      2 Baths

    • Year Built
      2000

    • Days on Market
      0

  • 17765 Garsalaso Circle, Brooksville, FL
    17765 Garsalaso Circle
    Brooksville, FL
    Photo of 17765 Garsalaso Circle, Brooksville, FL 34604 (MLS # TB8425020)
    $325,500
    • Lot Size
      6,099 sqft

    • Home Size
      1,722 sqft

    • Beds
      2 Beds

    • Baths
      2 Baths

    • Year Built
      2018

    • Days on Market
      0

  • 937 Walnut Creek Lane, Kissimmee, FL
    937 Walnut Creek Lane
    Kissimmee, FL
    Photo of 937 Walnut Creek Lane, Kissimmee, FL 34759 (MLS # O6341666)
    $479,000
    • Lot Size
      7,406 sqft

    • Home Size
      2,316 sqft

    • Beds
      3 Beds

    • Baths
      3 Baths

    • Year Built
      2022

    • Days on Market
      0

    View Virtual Tour
  • 468 Lakeview Drive #21, Palm Harbor, FL
    468 Lakeview Drive #21
    Palm Harbor, FL
    Photo of 468 Lakeview Drive #21, Palm Harbor, FL 34683 (MLS # TB8424624)
    $390,000
    • Lot Size
      4,356 sqft

    • Home Size
      1,555 sqft

    • Beds
      2 Beds

    • Baths
      3 Baths

    • Year Built
      1981

    • Days on Market
      0

  • 211 W Martin Luther King Jr Drive, Tarpon Springs, FL
    211 W Martin Luther King Jr Drive
    Tarpon Springs, FL
    Photo of 211 W Martin Luther King Jr Drive, Tarpon Springs, FL 34689 (MLS # TB8420729)
    $489,000
    • Lot Size
      8,712 sqft

    • Home Size
      1,198 sqft

    • Beds
      2 Beds

    • Baths
      2 Baths

    • Year Built
      1972

    • Days on Market
      1

  • 5160 Sylvester Loop, Tampa, FL
    5160 Sylvester Loop
    Tampa, FL
    Photo of 5160 Sylvester Loop, Tampa, FL 33610 (MLS # TB8425028)
    $339,900
    • Lot Size
      2,614 sqft

    • Home Size
      1,880 sqft

    • Beds
      3 Beds

    • Baths
      3 Baths

    • Year Built
      2020

    • Days on Market
      1

  • 1216 S Missouri Avenue #419, Clearwater, FL
    1216 S Missouri Avenue #419
    Clearwater, FL
    Photo of 1216 S Missouri Avenue #419, Clearwater, FL 33756 (MLS # TB8421786)
    $259,000
    • Lot Size
      1.70 ac

    • Home Size
      1,010 sqft

    • Beds
      2 Beds

    • Baths
      2 Baths

    • Year Built
      2004

    • Days on Market
      1

  • 1135 Fairview Avenue, Bartow, FL
    1135 Fairview Avenue
    Bartow, FL
    Photo of 1135 Fairview Avenue, Bartow, FL 33830 (MLS # L4955680)
    $165,000
    • Lot Size
      5,663 sqft

    • Home Size
      816 sqft

    • Beds
      2 Beds

    • Baths
      1 Bath

    • Year Built
      1953

    • Days on Market
      1

  • 6515 Eagle View Loop, Lakeland, FL
    6515 Eagle View Loop
    Lakeland, FL
    Photo of 6515 Eagle View Loop, Lakeland, FL 33813 (MLS # L4955395)
    $1,100,000
    • Lot Size
      16,553 sqft

    • Home Size
      4,356 sqft

    • Beds
      5 Beds

    • Baths
      5 Baths

    • Year Built
      2015

    • Days on Market
      1

    View Virtual Tour
  • 10119 Candleberry Woods Lane, Gibsonton, FL
    10119 Candleberry Woods Lane
    Gibsonton, FL
    Photo of 10119 Candleberry Woods Lane, Gibsonton, FL 33534 (MLS # TB8425024)
    $305,000
    • Lot Size
      5,228 sqft

    • Home Size
      1,431 sqft

    • Beds
      3 Beds

    • Baths
      2 Baths

    • Year Built
      2019

    • Days on Market
      1

    View Virtual Tour
  • 3328 Rennes Court, Land O Lakes, FL
    3328 Rennes Court
    Land O Lakes, FL
    Photo of 3328 Rennes Court, Land O Lakes, FL 34638 (MLS # TB8425029)
    $415,000
    • Lot Size
      6,534 sqft

    • Home Size
      1,904 sqft

    • Beds
      4 Beds

    • Baths
      3 Baths

    • Year Built
      2006

    • Days on Market
      1

  • 522 Pine Avenue #1A, Anna Maria, FL
    522 Pine Avenue #1A
    Anna Maria, FL
    Photo of 522 Pine Avenue #1A, Anna Maria, FL 34216 (MLS # A4664240)
    $549,000
    • Lot Size

    • Home Size
      822 sqft

    • Beds
      2 Beds

    • Baths
      1 Bath

    • Year Built
      1973

    • Days on Market
      1

    View Virtual Tour
  • 692 Bloom Terrace, Davenport, FL
    692 Bloom Terrace
    Davenport, FL
    Photo of 692 Bloom Terrace, Davenport, FL 33837 (MLS # O6341753)
    $399,000
    • Lot Size
      6,099 sqft

    • Home Size
      2,044 sqft

    • Beds
      3 Beds

    • Baths
      3 Baths

    • Year Built
      2022

    • Days on Market
      1

  • 2621 16th Avenue N, St Petersburg, FL
    2621 16th Avenue N
    St Petersburg, FL
    Photo of 2621 16th Avenue N, St Petersburg, FL 33713 (MLS # TB8424773)
    $549,000
    • Lot Size
      5,228 sqft

    • Home Size
      1,672 sqft

    • Beds
      3 Beds

    • Baths
      3 Baths

    • Year Built
      2019

    • Days on Market
      1

    View Virtual Tour
  • 102 Riviera Dunes Way #S-46, Palmetto, FL
    102 Riviera Dunes Way #S-46
    Palmetto, FL
    Photo of 102 Riviera Dunes Way #S-46, Palmetto, FL 34221 (MLS # A4664245)
    $200,000
    • Lot Size
      872 sqft

    • Home Size

    • Beds

    • Baths

    • Year Built
      0

    • Days on Market
      1

    View Virtual Tour

See all All Homes Around Tampa.
(all data current as of 9/6/2025)

Listing information deemed reliable but not guaranteed. Read full disclaimer.

 
 

Filed Under: 2020, Advice, Buying a home, Buying a home 2018, Florida Housing 2018, Home buyers, Home buying, Home Ownership, Housing Market 2018, Housing Updates 2018, Moving, RE/MAX Agent

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813-695-6475

 

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