Rates fell last week, bringing more good news for the real estate markets.
For the week ending January 23, Freddie Mac announced that 30-year fixed rates moved down to 3.60% from 3.65% the week before. The average for 15-year loans decreased to 3.04% and the average for five-year ARMs moved down to 3.28%. A year ago, 30-year fixed rates averaged 4.45%, more than .75% higher than today. "Rates on home loans fell to the lowest level in three months and are about a quarter point above all-time lows. The very low rate environment has clearly had an impact on the housing market as both new construction and home sales have surged in response to the decline in rates, the rebound in the economy and improving financial market sentiment," 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 January 24, 2020
|
|
Daily Value
|
Monthly Value
|
|
|
Jan 23
|
December
|
|
6-month Treasury Security
|
1.56%
|
1.58%
|
|
1-year Treasury Security
|
1.55%
|
1.55%
|
|
3-year Treasury Security
|
1.51%
|
1.63%
|
|
5-year Treasury Security
|
1.55%
|
1.68%
|
|
10-year Treasury Security
|
1.74%
|
1.86%
|
|
12-month LIBOR
|
|
1.996% (Dec)
|
|
12-month MTA
|
|
2.053% (Dec)
|
|
11th District Cost of Funds
|
|
1.035% (Nov)
|
|
Prime Rate
|
|
4.75% (Oct)
|