Rates moved up slightly this week, but the data was released before rates fell in reaction to the statement from the Fed Reserve after their meeting.
For the week ending June 11, Freddie Mac announced that 30-year fixed rates moved up to 3.21% from 3.18% the week before. The average for 15-year loans remained at 2.62% and the average for five-year ARMs also was flat at 3.10%. A year ago, 30-year fixed rates averaged 3.82%, more than 0.50% higher than today. "The rebound in homebuyer demand continued this week, driven by interest rates that hover near record lows. This turnaround in demand, particularly by those who have higher incomes than the typical household, also reflects deferred sales from the Spring," 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 June 12, 2020
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Daily Value
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Monthly Value
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June 11
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May
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6-month Treasury Security
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0.18%
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0.15%
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1-year Treasury Security
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0.19%
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0.16%
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3-year Treasury Security
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0.22%
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0.22%
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5-year Treasury Security
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0.32%
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0.34%
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10-year Treasury Security
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0.66%
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0.67%
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12-month LIBOR
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0.674% (May)
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12-month MTA
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1.323% (May)
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11th District Cost of Funds
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0.740% (Apr)
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Prime Rate
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3.25% (March)
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