The Freddie Mac Primary Mortgage Survey released on February 27, 2020, reported mortgage rates for the most popular loan products as follows: The 30-year fixed mortgage rate average was 3.45%, down from 3.49% last week. The 15-year fixed was 2.95%, down from 2.99% last week. The 5-year ARM was 3.20%, down from 3.25% last week. Usually, mortgage rates follow bond yields, but lenders chose to leave rates mostly unchanged this week because they believe that these historic low bond yield levels this week would be temporary.
