U.S. long-term mortgage rates hit new lows; 30-year at 2.65%

WASHINGTON » U.S. long-term mortgage rates declined this week to new record lows for the first week of 2021.

The year opens against the continuing backdrop of damage from the coronavirus pandemic on the U.S. and global economies, which suppressed home loan rates through most of 2020. Mortgage buyer Freddie Mac reported Thursday that the average rate on the benchmark 30-year fixed-rate home loan slipped to 2.65% from 2.67% from last week. By contrast, the rate stood at 3.64% a year ago. The average rate on 15-year fixedrate loans, popular among homeowners seeking to refinance their mortgages, ticked down to 2.16% from 2.17%.