Rates hit still another record low last week.
For the week ending December 17, Freddie Mac announced that 30-year fixed rates fell to 2.67% from 2.71% the week before. The average for 15-year loans also decreased to 2.21% and the average for five-year ARMs remained at 2.79%. A year ago, 30-year fixed rates averaged 3.73%, more than 1.00% higher than today. "The housing market continues to surge higher and support an otherwise stagnant economy that has lost momentum in the last couple of months. Rates on home loans are at record lows and pushing many prospective homebuyers off the sidelines and into the market. Homebuyer sentiment is sanguine and purchase demand shows no real signs of waning at all heading into next year," 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 December 18, 2020
|
Daily Value
|
Monthly Value
|
|
December 17
|
November
|
6-month Treasury Security
|
0.09%
|
0.10%
|
1-year Treasury Security
|
0.09%
|
0.12%
|
3-year Treasury Security
|
0.19%
|
0.22%
|
5-year Treasury Security
|
0.38%
|
0.39%
|
10-year Treasury Security
|
0.94%
|
0.87%
|
12-month LIBOR
|
|
0.333% (Nov)
|
12-month MTA
|
|
0.500% (Nov)
|
11th District Cost of Funds
|
|
0.503% (Oct)
|
Prime Rate
|
|
3.25% (March)
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