Rates moved lower for the third straight week but showed signs of leveling off.
For the week ending May 16, Freddie Mac announced that 30-year fixed rates fell to 4.07% from 4.10% the previous week. The average for 15-year loans decreased to 3.53% and the average for five-year ARMs moved up to 3.66%. A year ago, 30-year fixed rates averaged 4.21%, over 0.5% higher than today. "Modestly weaker consumer spending and manufacturing data, along with continued jitters around trade policy, caused interest rates to decline throughout the yield curve. While signals from the financial markets are flashing caution signs, the real economy remains on solid ground with steady job growth and five-decade low unemployment rates, which will drive up home sales this summer," 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 May 17, 2019
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Daily Value
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Monthly Value
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May 16
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April
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6-month Treasury Security
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2.43%
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2.46%
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1-year Treasury Security
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2.33%
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2.42%
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3-year Treasury Security
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2.15%
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2.31%
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5-year Treasury Security
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2.18%
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2.33%
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10-year Treasury Security
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2.40%
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2.53%
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12-month LIBOR
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2.710% (Apr)
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12-month MTA
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2.504% (Apr)
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11th District Cost of Funds
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0.958% (Mar)
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Prime Rate
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5.50% (Dec)
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