---
title: Mortgage Interest Rates Near Three-year Lows
description: Average US mortgage interest rates fell 9 basis points for the week ending Jan. 30, 2020, to the second-lowest rate in three years, Freddie Mac reported.
---

[Massachusetts Home Buyer Guide, First-time Homebuyer Tips, Advice MA ](https://info.buyersbrokersonly.com/blog)

# [Mortgage Interest Rates Near Three-year Lows](https://info.buyersbrokersonly.com/blog/mortgage-interest-rates-near-three-year-lows)

 Written by [Rich Rosa](https://info.buyersbrokersonly.com/blog/author/rich-rosa) | Feb 3, 2020 4:27:51 PM

Average U.S. mortgage interest rates fell another 9 basis points for the week ending January 30, 2020, to the second-lowest rate in three years, according to Freddie Mac's weekly Primary Mortgage Market Survey.

<https://info.buyersbrokersonly.com/personal-home-buyer-consultation>The [30-year, fixed-rate mortgage loan](https://info.buyersbrokersonly.com/loan) averaged 3.51 percent, with an average 0.7 point, compared to 3.60 percent the prior week. The 30-year note averaged 4.46 percent during the same week last year, and it has remained below 4 percent for nearly eight months.

What difference does a year make? If a [homebuyer](https://info.buyersbrokersonly.com/homebuyer-checklist-massachusetts) purchased a $400,000 home with a 5 percent down payment at this time last year, they would have paid about $200 per month more for the principal and interest portion of their [mortgage](https://info.buyersbrokersonly.com/12-massachusetts-mortgage-mistakes).

"This week's mortgage rates were the second-lowest in three years, supporting homebuyer demand and leading to higher refinancing activity," said Sam Khater, Freddie Mac's chief economist. "Borrowers who take advantage of these low rates [to refinance] can improve their cash flow by lowering their monthly mortgage payments, giving them more money to spend or save."

Despite attractive mortgage interest rates, a lack of affordability and scarce inventory remain obstacles for [first-time homebuyers](https://info.buyersbrokersonly.com/personal-home-buyer-consultation) in Massachusetts. Through December 2019, the number of single-family homes has declined 94 times in the last 95 months on a year-over-year basis. Available single-family homes plummeted 33.8 percent compared to December 2018. The number of months of supply dropped 37 percent to 1.7 months from 2.7 months in December 2018.

The 15-year, fixed-rate mortgage loan, which is popular with homeowners who want to refinance, averaged 3 percent, with an average 0.7 point. The 15-year loan averaged 3.04 percent the previous week and 3.89 percent the year before.

The five-year, adjustable-rate mortgage (ARM) averaged 3.24 percent, with an average 0.3 point, down from the prior week when it averaged 3.28 percent. A year ago, the five-year ARM averaged 3.96 percent.

[View full post](https://info.buyersbrokersonly.com/blog/mortgage-interest-rates-near-three-year-lows)

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