Rates held near their all-time lows last week.
For the week ending September 17, Freddie Mac announced that 30-year fixed rates rose one tick to 2.87% from 2.86% the week before. The average for 15-year loans decreased to 2.35% and the average for five-year ARMs decreased to 2.96%. A year ago, 30-year fixed rates averaged 3.73%, over .75% higher than today. "Despite the recession, the very low interest rate environment has spurred many first-time homebuyers to jump into the real estate market. In August, first-time homebuyer activity rose 19 percent from July to the highest monthly level ever for Freddie Mac. The first-time homebuyer driven rebound in the housing market has come at a critical time for the economy," 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 September 18, 2020
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Daily Value
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Monthly Value
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Sept 17
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August
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6-month Treasury Security
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0.11%
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0.12%
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1-year Treasury Security
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0.12%
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0.13%
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3-year Treasury Security
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0.16%
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0.16%
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5-year Treasury Security
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0.28%
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0.27%
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10-year Treasury Security
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0.69%
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0.65%
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12-month LIBOR
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0.433% (Aug)
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12-month MTA
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0.883% (Aug)
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11th District Cost of Funds
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0.653% (July)
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Prime Rate
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3.25% (March)
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