Rates Lower Once Again

October 1, 2019
low-rates
Rates eased back last week after two weeks of increases.

 

For the week ending September 26, Freddie Mac announced that 30-year fixed rates fell to 3.64% from 3.75% the week before. The average for 15-year loans decreased to 3.16% and the average for five-year ARMs moved down to 3.38%. A year ago, 30-year fixed rates averaged 4.72%, more than 1.0% higher than today. "With both the unemployment rate and fixed rates below four percent and near historic lows, it is no surprise that the housing market regained momentum with home sales and construction at or near decade highs. The fall housing market is poised to continue with steady gains in prices and solid sales activity," 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 September 27, 2019

 

Daily Value

Monthly Value

 

Sept 26

August

6-month Treasury Security

1.88%

1.93%

1-year Treasury Security

1.79%

1.77%

3-year Treasury Security

1.61%

1.51%

5-year Treasury Security

1.59%

1.49%

10-year Treasury Security

1.70%

1.63%

12-month LIBOR

 

1.974% (Aug)

12-month MTA

 

2.390% (Aug)

11th District Cost of Funds

 

1.155% (July)

Prime Rate

 

5.00% (Sept)