Mortgage Rates Today January 14, 2020![]() Last fall, average 30-year mortgage rates hit a low of 3.49 percent, only 14 basis points from 2013's all-time low of 3.35 percent. Current mortgage rates on 30-year conforming loans are averaging 3.80 percent, down from the prior week's average rate of 3.83 percent. As you can see, average 30-year rates are only 45 BPS from the all-time record low of 3.35 percent. Today's mortgage rates on 15-year conventional loans are averaging 3.25 percent, a decline from the previous week's average 15-year rate of 3.27 percent. The all-time low for average 15-year mortgage rates was 2.56 percent back in the spring of 2013, only 74 BPS lower than current rates. Mortgage rates will continue to be range-bound for most of 2020. We don't expect rates to move much higher than current levels. It is more likely that rates will move lower, especially if economic growth slows or if there is a recession in 2020. If there is a slow down or a recession, we will most likely see mortgage rates hit new all-time lows in 2020. Average Mortgage Rates TodayConforming Mortgage Rates
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