Rates on 30-year loans moved below the 4.00%-mark last week.
For the week ending May 30, Freddie Mac announced that 30-year fixed rates fell to 3.99% from 4.06% the previous week. The average for 15-year loans decreased to 3.46% and the average for five-year ARMs moved down to 3.60%. A year ago, 30-year fixed rates averaged 4.56%, over 0.5% higher than today. "While economic data points to continued strength, financial sentiment is weakening with the spread between the 10-year and the 3-month Treasury bill narrowing as fears of the impact of the trade war with China grow. Lower rates should, however, give a boost to the housing market, which has been on the upswing with both existing and new home sales picking up recently," 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 31, 2019
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Daily Value
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Monthly Value
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May 30
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April
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6-month Treasury Security
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2.40%
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2.46%
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1-year Treasury Security
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2.29%
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2.42%
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3-year Treasury Security
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2.00%
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2.33%
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5-year Treasury Security
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2.03%
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2.43%
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10-year Treasury Security
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2.22%
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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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