Rates fell significantly last week but rebounded a bit after the survey period.
For the week ending August 8, Freddie Mac announced that 30-year fixed rates fell to 3.60% from 3.75% the week before. The average for 15-year loans decreased to 3.15% and the average for five-year ARMs moved down to 3.36%. A year ago, 30-year fixed rates averaged 4.59%, approximately 1.0% higher than today. "There is a tug of war in the financial markets between weaker business sentiment and consumer sentiment. Business sentiment is declining on negative trade and manufacturing headlines, but consumer sentiment remains buoyed by a strong labor market and low rates that will continue to drive home sales into the fall," 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 August 9, 2019
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Daily Value
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Monthly Value
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August 8
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July
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6-month Treasury Security
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1.96%
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2.08%
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1-year Treasury Security
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1.79%
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1.96%
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3-year Treasury Security
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1.54%
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1.80%
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5-year Treasury Security
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1.54%
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1.83%
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10-year Treasury Security
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1.72%
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2.06%
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12-month LIBOR
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2.189% (July)
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12-month MTA
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2.447% (July)
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11th District Cost of Funds
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1.141% (June)
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Prime Rate
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5.25% (July)
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