Rates Bump Up

July 28, 2020
Rates Bump Up
Rates rose slightly in the past week.


For the week ending July 23, Freddie Mac announced that 30-year fixed rates rose to 3.01% from 2.98% the week before. The average for 15-year loans increased to 2.54% and the average for five-year ARMs rose to 3.09%. A year ago, 30-year fixed rates averaged 3.75%, approximately 0.75% higher than today. "While housing demand continues to rebound, the month-long swoon in economic activity has caused the 10-year Treasury benchmark to drop. In the short-term, this means the demand will continue on the back of near record low rates on home loans. However, the most recent consumer spending data has been pointing to slow growth since mid-June. The concern is that the pause in economic activity will cause unemployment to remain elevated which will lead to longer-term labor market distress," 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 July 24, 2020


Daily Value

Monthly Value


July 23


6-month Treasury Security



1-year Treasury Security



3-year Treasury Security



5-year Treasury Security



10-year Treasury Security



12-month LIBOR


0.533% (June)

12-month MTA


1.171% (June)

11th District Cost of Funds


0.755% (May)

Prime Rate


3.25% (March)