Rates Begin to Rise

November 19, 2020
Rates Begin to Rise
Rates bounced off record lows last week in response to positive progress on the development of a vaccine.


For the week ending November 12, Freddie Mac announced that 30-year fixed rates rose to 2.84% from 2.78% the week before. The average for 15-year loans increased slightly to 2.34% and the average for five-year ARMs rose to 3.11%. A year ago, 30-year fixed rates averaged 3.75%, almost 1.00% higher than today. "Rates on home loans jumped this week as a result of positive news about a COVID-19 vaccine. Despite this rise, rates remain about a percentage point below a year ago and the low rate environment is supportive of both purchase and refinance demand. Heading into late fall, the housing market continues to grow and buttress 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 November 13, 2020


Daily Value

Monthly Value


Nov 12


6-month Treasury Security



1-year Treasury Security



3-year Treasury Security



5-year Treasury Security



10-year Treasury Security



12-month LIBOR


0.330% (Oct)

12-month MTA


0.621% (Oct)

11th District Cost of Funds


0.523% (Sept)

Prime Rate


3.25% (March)