Rates were little changed for the second straight week.
For the week ending February 20, Freddie Mac announced that 30-year fixed rates moved up to 3.49% from 3.47% the week before. The average for 15-year loans increased to 2.99% and the average for five-year ARMs moved down to 3.25%. A year ago, 30-year fixed rates averaged 4.35%, almost 1.00% higher than today. "The low interest rate environment continues to spur homebuying activity, with applications to purchase a home up fifteen percent from a year ago. We’ve seen new residential construction surge over the last few months, on pace to reach the highest level in more than a decade. This is a good sign for the inventory-starved housing market and is a promising indication for the spring homebuying season," 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 21, 2020
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Daily Value
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Monthly Value
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February 20
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January
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6-month Treasury Security
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1.55%
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1.56%
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1-year Treasury Security
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1.46%
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1.53%
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3-year Treasury Security
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1.35%
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1.52%
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5-year Treasury Security
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1.37%
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1.56%
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10-year Treasury Security
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1.52%
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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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