The downward trend in rates came back in a big way last week.
For the week ending March 14, Freddie Mac announced that 30-year fixed rates fell to 4.31% from 4.41% the week before. The average for 15-year loans decreased to 3.76% and the average for five-year adjustables eased to 3.84%. A year ago, 30-year fixed rates averaged 4.44%, higher than today. "Rates on home loans declined decisively this week amid various market reports, a strong bond auction and further uncertainty around the Brexit deal, which all contributed to driving bond yields lower. At 4.31 percent, the average 30-year fixed rate is at its lowest since February of last year. While these low rates will certainly get the attention of prospective homebuyers, the supply of homes for sale remains stubbornly low," said Sam Khater, Chief Economist, Freddie Mac.
Note: Rates indicated do not include fees and points and are provided for evidence of trends only. They should not be used for comparison purposes.
Current Indices for Adjustable Rate Mortgages
Updated March 15, 2019
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Daily Value
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Monthly Value
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March 14
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February
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6-month Treasury Security
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2.52%
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2.50%
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1-year Treasury Security
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2.52%
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2.55%
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3-year Treasury Security
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2.42%
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2.48%
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5-year Treasury Security
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2.43%
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2.49%
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10-year Treasury Security
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2.63%
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2.68%
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12-month LIBOR
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2.865% (Feb)
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12-month MTA
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2.446% (Feb)
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11th District Cost of Funds
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1.125% (Jan)
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Prime Rate
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5.50% (Dec)
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