Rates Edge Upward

September 28, 2021
Rates-Edge-Upward
For the week ending September 23, 30-year rates rose to 2.88% from 2.86% the week before.

 

In addition, 15-year loans increased to 2.15% and the average for five-year ARMs fell to 2.43%. A year ago, 30-year fixed rates averaged 2.90%, virtually the same as today. Attributed to Sam Khater, Chief Economist, Freddie Mac - "The slowdown in economic growth around the world has caused a flight to the quality of the U.S. financial markets. This has led to a rise in foreign investor purchases of U.S. Treasuries, causing mortgage rates to remain in place, despite the increasing dispersion of inflation across different consumer goods and services.”

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 September 24, 2021

Daily Value

Monthly Value

Sept 23

August

6-month Treasury Security

0.04%

0.06%

1-year Treasury Security

0.08%

0.07%

3-year Treasury Security

0.53%

0.42%

5-year Treasury Security

0.94%

0.77%

10-year Treasury Security

1.41%

1.28%

12-month LIBOR

0.228% (Aug)

12-month MTA

0.088% (Aug)

11th District Cost of Funds

0.263% (July)

Prime Rate

3.25% (3/20)