Rates Slip Lower

April 13, 2021
Rates Fall
For the first time in a while, rates move lower.

 

For the week ending April 8, Freddie Mac announced that 30-year fixed rates decreased to 3.13% from 3.18% the week before. The average for 15-year loans fell to 2.42% and the average for five-year ARMs rose to 2.92%. A year ago, 30-year fixed rates averaged 3.33%, 0.20% higher than today. "After moving up for seven consecutive weeks, mortgage rates have dropped due to the recent, modest decline of U.S. Treasury yields. As the economy recovers, it should experience a strong rebound in the labor market. Combined, these positive signals will continue to bolster purchase demand. The drop in rates creates yet another opportunity for those who have not refinanced to take a look at the possibility,” 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 April 9, 2021


Daily Value

Monthly Value


April 8

March

6-month Treasury Security

0.04%

0.05%

1-year Treasury Security

0.05%

0.08%

3-year Treasury Security

0.33%

0.32%

5-year Treasury Security

0.85%

0.82%

10-year Treasury Security

1.64%

1.61%

12-month LIBOR


0.281% (March)

12-month MTA


0.128% (March)

11th District Cost of Funds


0.408% (Feb)

Prime Rate


3.25% (3/20)