Rates were relatively stable for the second straight week, but trended lower toward the end of the week after the Fed meeting.
For the week ending June 20, Freddie Mac announced that 30-year fixed rates rose slightly to 3.84%. The average for 15-year loans decreased slightly to 3.25% and the average for five-year ARMs moved down to 3.48%. A year ago, 30-year fixed rates averaged 4.57%, over 0.5% higher than today. "While the continued drop in rates has paused, homebuyer demand has not. This is evident in increased purchase activity and loan amounts, indicating that homebuyers still have the willingness and capacity to purchase homes. Today’s low rates, strong job market, solid wage growth and consumer confidence are typically important drivers of home sales," 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 June 21, 2019
|
Daily Value
|
Monthly Value
|
|
June 20
|
May
|
6-month Treasury Security
|
2.04%
|
2.42%
|
1-year Treasury Security
|
1.91%
|
2.34%
|
3-year Treasury Security
|
1.69%
|
2.16%
|
5-year Treasury Security
|
1.74%
|
2.19%
|
10-year Treasury Security
|
2.01%
|
2.40%
|
12-month LIBOR
|
|
2.510% (May)
|
12-month MTA
|
|
2.510% (May)
|
11th District Cost of Funds
|
|
1.095% (Apr)
|
Prime Rate
|
|
5.50% (Dec)
|