Current Mortgages -- October 19, 2020: Rates Drop for All Loans

Current Mortgages -- October 19, 2020: Rates Drop for All Loans

Mortgage rates have repeatedly hit record lows in recent weeks and have been well below historical averages. Average mortgage rates for Oct. 19 are incredibly competitive with the 30-year loan averaging well below 3.00% and the 15-year loan averaging well below 2.50%. The average 30-year mortgage rate today is 2.884%, down .003% from last Friday's average rate of 2.887%.