Rates eased closer to record lows in the past week but trended up after the survey was released.
For the week ending August 5, Freddie Mac announced that 30-year fixed rates decreased to 2.77% from 2.80% the week before. The average for 15-year loans remained at 2.10% and the average for five-year ARMs fell to 2.40%. A year ago, 30-year fixed rates averaged 2.88%, .11% higher than today. Attributed to Sam Khater, Chief Economist, Freddie Mac - " With global market uncertainty surrounding the Delta variant of COVID-19, we saw 10-year Treasury yields drift lower and consequently mortgage rates followed suit. The 30-year fixed-rate mortgage dipped back to where it stood at the beginning of 2021, and the 15-year fixed remained at its historic low. This bodes well for those still looking to refinance, renovate or even purchase a new home.”
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 August 6, 2021
|
Daily Value
|
Monthly Value
|
|
August 5
|
July
|
|
6-month Treasury Security
|
0.06%
|
0.05%
|
|
1-year Treasury Security
|
0.08%
|
0.08%
|
|
3-year Treasury Security
|
0.38%
|
0.40%
|
|
5-year Treasury Security
|
0.72%
|
0.76%
|
|
10-year Treasury Security
|
1.23%
|
1.32%
|
|
12-month LIBOR
|
|
0.235% (July)
|
|
12-month MTA
|
|
0.093% (July)
|
|
11th District Cost of Funds
|
|
0.282% (June)
|
|
Prime Rate
|
|
3.25% (3/20)
|