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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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  • 324 Sorrento Rd, Poinciana, FL
    324 Sorrento Rd
    Poinciana, FL
    Photo of 324 Sorrento Rd, Poinciana, FL 34759 (MLS # S5130152)
    $389,000
    • Lot Size
      9,584 sqft

    • Home Size
      2,038 sqft

    • Beds
      2 Beds

    • Baths
      2 Baths

    • Year Built
      2006

    • Days on Market
      0

    View Virtual Tour
  • 308 E Hollywood Street, Tampa, FL
    308 E Hollywood Street
    Tampa, FL
    Photo of 308 E Hollywood Street, Tampa, FL 33604 (MLS # L4954188)
    $825,000
    • Lot Size
      7,841 sqft

    • Home Size
      1,400 sqft

    • Beds
      3 Beds

    • Baths
      2 Baths

    • Year Built
      1959

    • Days on Market
      0

  • 9934 Peninsular Drive, Gibsonton, FL
    9934 Peninsular Drive
    Gibsonton, FL
    Photo of 9934 Peninsular Drive, Gibsonton, FL 33534 (MLS # L4954186)
    $649,000
    • Lot Size
      12,197 sqft

    • Home Size
      2,506 sqft

    • Beds
      4 Beds

    • Baths
      4 Baths

    • Year Built
      1988

    • Days on Market
      1

  • 25640 State Road 70 E, Myakka City, FL
    25640 State Road 70 E
    Myakka City, FL
    Photo of 25640 State Road 70 E, Myakka City, FL 34251 (MLS # A4657576)
    $850,000
    • Lot Size
      2.23 ac

    • Home Size
      1,870 sqft

    • Beds
      3 Beds

    • Baths
      3 Baths

    • Year Built
      1996

    • Days on Market
      1

  • 1415 Russel Lane, Holiday, FL
    1415 Russel Lane
    Holiday, FL
    Photo of 1415 Russel Lane, Holiday, FL 34691 (MLS # O6323805)
    $195,000
    • Lot Size
      5,228 sqft

    • Home Size
      988 sqft

    • Beds
      2 Beds

    • Baths
      1 Bath

    • Year Built
      1971

    • Days on Market
      1

  • 20115 Nob Oak Avenue, Tampa, FL
    20115 Nob Oak Avenue
    Tampa, FL
    Photo of 20115 Nob Oak Avenue, Tampa, FL 33647 (MLS # TB8403453)
    $525,000
    • Lot Size
      6,099 sqft

    • Home Size
      3,004 sqft

    • Beds
      4 Beds

    • Baths
      3 Baths

    • Year Built
      2005

    • Days on Market
      1

  • 10928 Echo Loop, New Port Richey, FL
    10928 Echo Loop
    New Port Richey, FL
    Photo of 10928 Echo Loop, New Port Richey, FL 34654 (MLS # TB8403615)
    $650,000
    • Lot Size
      3.00 ac

    • Home Size
      1,625 sqft

    • Beds
      3 Beds

    • Baths
      3 Baths

    • Year Built
      1989

    • Days on Market
      1

  • 3921 E Eden Roc Circle, Tampa, FL
    3921 E Eden Roc Circle
    Tampa, FL
    Photo of 3921 E Eden Roc Circle, Tampa, FL 33634 (MLS # TB8403469)
    $859,000
    • Lot Size
      8,712 sqft

    • Home Size
      2,632 sqft

    • Beds
      4 Beds

    • Baths
      3 Baths

    • Year Built
      1960

    • Days on Market
      1

  • 4359 Tahitian Gardens Circle #A, Holiday, FL
    4359 Tahitian Gardens Circle #A
    Holiday, FL
    Photo of 4359 Tahitian Gardens Circle #A, Holiday, FL 34691 (MLS # TB8403022)
    $138,000
    • Lot Size
      1.22 ac

    • Home Size
      825 sqft

    • Beds
      2 Beds

    • Baths
      2 Baths

    • Year Built
      1979

    • Days on Market
      1

  • 3330 Rock Royal Drive, Holiday, FL
    3330 Rock Royal Drive
    Holiday, FL
    Photo of 3330 Rock Royal Drive, Holiday, FL 34691 (MLS # TB8397384)
    $254,900
    • Lot Size
      5,228 sqft

    • Home Size
      1,212 sqft

    • Beds
      3 Beds

    • Baths
      1 Bath

    • Year Built
      1970

    • Days on Market
      1

  • 10420 Carlin Drive, Brooksville, FL
    10420 Carlin Drive
    Brooksville, FL
    Photo of 10420 Carlin Drive, Brooksville, FL 34601 (MLS # W7876999)
    $439,000
    • Lot Size
      1.24 ac

    • Home Size
      2,744 sqft

    • Beds
      4 Beds

    • Baths
      3 Baths

    • Year Built
      1978

    • Days on Market
      1

  • 423 Avenue H SE, Winter Haven, FL
    423 Avenue H SE
    Winter Haven, FL
    Photo of 423 Avenue H SE, Winter Haven, FL 33880 (MLS # L4954178)
    $220,000
    • Lot Size
      10,019 sqft

    • Home Size
      832 sqft

    • Beds
      2 Beds

    • Baths
      1 Bath

    • Year Built
      1923

    • Days on Market
      1

  • 2231 Crofton Springs Court, Davenport, FL
    2231 Crofton Springs Court
    Davenport, FL
    Photo of 2231 Crofton Springs Court, Davenport, FL 33837 (MLS # S5130076)
    $625,000
    • Lot Size
      12,197 sqft

    • Home Size
      3,616 sqft

    • Beds
      6 Beds

    • Baths
      4 Baths

    • Year Built
      2019

    • Days on Market
      1

  • 8143 Channel Drive, Port Richey, FL
    8143 Channel Drive
    Port Richey, FL
    Photo of 8143 Channel Drive, Port Richey, FL 34668 (MLS # W7876848)
    $649,900
    • Lot Size
      15,682 sqft

    • Home Size
      2,006 sqft

    • Beds
      3 Beds

    • Baths
      2 Baths

    • Year Built
      1978

    • Days on Market
      1

  • 4410 Lurline Circle, Tampa, FL
    4410 Lurline Circle
    Tampa, FL
    Photo of 4410 Lurline Circle, Tampa, FL 33610 (MLS # TB8403601)
    $360,000
    • Lot Size
      7,841 sqft

    • Home Size
      1,197 sqft

    • Beds
      3 Beds

    • Baths
      2 Baths

    • Year Built
      1979

    • Days on Market
      1

See all All Homes Around Tampa.
(all data current as of 7/3/2025)

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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813-300-7116

813-695-6475

 

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