For the week ending July 8, Freddie Mac announced that 30-year fixed rates decreased to 2.90% from 2.98% the week before.
The average for 15-year loans fell to 2.20% and the average for five-year ARMs moved down to 2.52%. A year ago, 30-year fixed rates averaged 3.03%, slightly higher than today. Attributed to Sam Khater, Chief Economist, Freddie Mac - "Mortgage rates decreased this week following the dip in U.S. Treasury yields. While mortgage rates tend to follow Treasury yields closely, other factors can be impactful such as the labor markets, which are continuing to improve per last week's jobs report. We expect economic growth to gradually drive interest rates higher, but homebuyers and refinance borrowers still have an opportunity to take advantage of 30-year rates that are expected to continue to hover around three percent.”
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 July 9, 2021
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Daily Value
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Monthly Value
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July 8
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June
|
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6-month Treasury Security
|
0.06%
|
0.05%
|
|
1-year Treasury Security
|
0.07%
|
0.07%
|
|
3-year Treasury Security
|
0.37%
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0.39%
|
|
5-year Treasury Security
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0.74%
|
0.84%
|
|
10-year Treasury Security
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1.30%
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1.52%
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12-month LIBOR
|
|
0.244% (June)
|
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12-month MTA
|
|
0.099% (June)
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|
11th District Cost of Funds
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|
0.306% (May)
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Prime Rate
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|
3.25% (3/20)
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