Rates continued their upward climb in the past week.
For the week ending March 25, Freddie Mac announced that 30-year fixed rates increased to 3.17% from 3.09% the week before. The average for 15-year loans rose to 2.45% and the average for five-year ARMs increased to 2.84%. A year ago, 30-year fixed rates averaged 3.50%, over 0.25% higher than today. "During the course of the pandemic, 'home' has become more important than ever. As a result, strong purchase demand continues—but buyers also outnumber the sellers. Since January, rates have increased half a percentage point from historic lows and home prices have risen, leaving potential homebuyers with less purchasing power. Unfortunately, this has disproportionately affected the low end of the market, where supply is the slimmest,” 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 Rates
Updated March 26, 2021
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Daily Value
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Monthly Value
|
|
March 25
|
February
|
|
6-month Treasury Security
|
0.04%
|
0.06%
|
|
1-year Treasury Security
|
0.07%
|
0.07%
|
|
3-year Treasury Security
|
0.30%
|
0.21%
|
|
5-year Treasury Security
|
0.82%
|
0.54%
|
|
10-year Treasury Security
|
1.63%
|
1.26%
|
|
12-month LIBOR
|
|
0.284% (Feb)
|
|
12-month MTA
|
|
0.148% (Feb)
|
|
11th District Cost of Funds
|
|
0.454% (Jan)
|
|
Prime Rate
|
|
3.25% (3/20)
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