Record-low rates continue throughout September
Rates ticked up slightly from their all-time lows last week. For the week ending September 24, Freddie Mac announced that 30-year fixed rates rose to 2.90% from 2.87% the week before. The average for 15-year loans increased to 2.40% and the average for five-year ARMs decreased to 2.90%. A year ago, 30-year fixed rates averaged 3.64%, .74% higher than today. Attributed to Sam Khater, Chief Economist, Freddie Mac - "Rates on home loans set several record lows over the last few months and have remained low into September. While there is room for rates to decrease even more, higher home prices and low inventory could potentially stifle the high demand that we’ve been seeing."
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 25, 2020
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Daily Value
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Monthly Value
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Sept 24
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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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0.27%
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0.27%
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10-year Treasury Security
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0.67%
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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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