The downward trend in rates continued in the past week and these numbers did not reflect the lower rates seen directly after the meeting of the Fed.
For the week ending March 21, Freddie Mac announced that 30-year fixed rates fell to 4.28% from 4.31% the week before. The average for 15-year loans decreased to 3.71% and the average for five-year adjustables remained at 3.84%. A year ago, 30-year fixed rates averaged 4.45%, higher than today. "Rates on home loans have dipped quite dramatically since the start of the year and house prices continue to moderate, which should help on the homebuyer affordability front. The combination of improving affordability and more inventory than the last few spring selling seasons should lead to improved home sales demand," 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 22, 2019
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Daily Value
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Monthly Value
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March 21
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February
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6-month Treasury Security
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2.50%
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2.50%
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1-year Treasury Security
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2.48%
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2.55%
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3-year Treasury Security
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2.34%
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2.48%
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5-year Treasury Security
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2.34%
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2.49%
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10-year Treasury Security
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2.54%
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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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