Rates reversed course again in the past week.
For the week ending November 21, Freddie Mac announced that 30-year fixed rates fell to 3.66% 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 as well to 3.39%. A year ago, 30-year fixed rates averaged 4.81%, more than 1.0% higher than today. "The housing market continues to steadily gain momentum with rising homebuyer demand and increased construction due to the strong job market, ebullient market sentiment and low interest rates. Residential real estate accounts for one-sixth of the economy, and the improving real estate market will support economic growth heading into next year," 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 November 22, 2019
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Daily Value
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Monthly Value
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Nov 21
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October
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6-month Treasury Security
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1.59%
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1.67%
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1-year Treasury Security
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1.55%
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1.61%
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3-year Treasury Security
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1.59%
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1.53%
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5-year Treasury Security
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1.62%
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1.53%
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10-year Treasury Security
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1.77%
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1.71%
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12-month LIBOR
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1.955% (Oct)
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12-month MTA
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2.240% (Oct)
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11th District Cost of Funds
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1.127% (Sept)
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Prime Rate
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4.75% (Oct)
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