Rates Remain Stable

August 3, 2021
Rates-Remain-Stable
Rates were stable last week, holding the lows they hit the previous week.

 

For the week ending July 29, Freddie Mac announced that 30-year fixed rates increased slightly to 2.80% from 2.78% the week before. The average for 15-year loans fell slightly to 2.10% and the average for five-year ARMs fell to 2.45%. A year ago, 30-year fixed rates averaged 2.99%, .19% higher than today. Attributed to Sam Khater, Chief Economist, Freddie Mac - "As the economy works to get back to its pre-pandemic self, and the fight against COVID-19 variants unfolds, owners and buyers continue to benefit from some of the lowest mortgage rates of all-time. Largely due to the current environment, the 30-year fixed-rate remains below three percent for the fifth consecutive week while the 15-year fixed-rate hits another record low.”

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 30, 2021

Daily Value

Monthly Value

July 29

June

6-month Treasury Security

0.05%

0.05%

1-year Treasury Security

0.08%

0.07%

3-year Treasury Security

0.37%

0.39%

5-year Treasury Security

0.73%

0.84%

10-year Treasury Security

1.28%

1.52%

12-month LIBOR

0.244% (June)

12-month MTA

0.099% (June)

11th District Cost of Funds

0.306% (May)

Prime Rate

3.25% (3/20)