Rates were fairly stable in the past week, remaining near historic lows.
For the week ending February 13, Freddie Mac announced that 30-year fixed rates moved up to 3.47% from 3.45% the week before. The average for 15-year loans remained at 2.97% and the average for five-year ARMs moved down to 3.28%. A year ago, 30-year fixed rates averaged 4.37%, almost 1.00% higher than today. "With rates on home loans hovering near a five-decade low, refinance application activity is once again surging, rising to the highest level in seven years. This surge coupled with strong purchase activity means that total demand remains robust, reflective of a solid economic backdrop and a very low interest rate environment," 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 February 14, 2020
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Daily Value
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Monthly Value
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February 13
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January
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6-month Treasury Security
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1.56%
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1.56%
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1-year Treasury Security
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1.48%
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1.53%
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3-year Treasury Security
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1.42%
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1.52%
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5-year Treasury Security
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1.43%
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1.56%
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10-year Treasury Security
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1.61%
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1.76%
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12-month LIBOR
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1.807% (Jan)
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12-month MTA
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1.966% (Jan)
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11th District Cost of Funds
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1.036% (Dec)
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Prime Rate
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4.75% (Oct)
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