Rates fell back to a record low for the 13th time this year.
For the week ending November 19, Freddie Mac announced that 30-year fixed rates fell to 2.72% from 2.84% the week before. The average for 15-year loans decreased 2.28% and the average for five-year ARMs fell to 2.85%. A year ago, 30-year fixed rates averaged 3.78%, almost 1.00% higher than today. Attributed to - "Weaker consumer spending data, which accounts for the majority of economic growth, drove rates on home loans to a new record low. While economic growth remains unstable, strong housing demand continues to have a domino effect on many other segments of 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 20, 2020
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Daily Value
|
Monthly Value
|
|
Nov 19
|
October
|
6-month Treasury Security
|
0.10%
|
0.11%
|
1-year Treasury Security
|
0.11%
|
0.13%
|
3-year Treasury Security
|
0.22%
|
0.19%
|
5-year Treasury Security
|
0.39%
|
0.34%
|
10-year Treasury Security
|
0.86%
|
0.74%
|
12-month LIBOR
|
|
0.330% (Oct)
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12-month MTA
|
|
0.621% (Oct)
|
11th District Cost of Funds
|
|
0.523% (Sept)
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Prime Rate
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|
3.25% (March)
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