Mortgage rates top 3% for first time since last summer
Kathy Orton, The Washington Post
March 4, 2021
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The 30-year fixed-rate mortgage, the most popular mortgage product, rose above 3% for the first time in seven months this week.
According to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average climbed to 3.02% with an average 0.6 point. (Points are fees paid to a lender equal to 1% of the loan amount and are in addition to the interest rate.) It was 2.97% a week ago and 3.29% a year ago.
The 30-year fixed average, which hasn t been above 3% since late July, has jumped more than 35 basis points since January. (A basis point is 0.01 percentage point.)
Operator
Ladies and gentlemen, thank you for standing by, and welcome to the Ally Financial s Fourth Quarter and Full Year 2020 Earnings Conference Call. [Operator Instructions] Please be advised that today s conference is being recorded. [Operator Instructions]
I would now like to hand the conference to your speaker today, Daniel Eller of Investor Relations. Please go ahead, sir.
Daniel Eller
Investor Relations
Thank you, operator. We appreciate everyone joining us to review Ally Financial s fourth quarter and full year 2020 results this morning. We have JB, Jeff Brown, our CEO; and Jenn LaClair, our CFO on the call, to review results and take questions. Before beginning, I ll note that the presentation we ll reference throughout the call can be found on the Ally Investor Relations website. On Slide 2, you ll find the forward-looking statements and risk factor language that will govern today s call, and on Slides 3 and 4, we ve included several GAAP and non-GAAP or core meas