For the week ending October 14, 30-year rates rose to 3.05% from 2.99% the week before.
Last week 15-year loans increased to 2.30% and the average for five-year ARMs rose to 2.55%. A year ago, 30-year fixed rates averaged 2.81%, approximately .25% lower than today. Attributed to Sam Khater, Chief Economist, Freddie Mac - "The 30-year fixed-rate mortgage rose to its highest point since April. As inflationary pressure builds due to the ongoing pandemic and tightening monetary policy, we expect rates to continue a modest upswing. Historically speaking, rates are still low, but many potential homebuyers are staying on the sidelines due to high home price growth. Rising mortgage rates combined with growing home prices make affordability more challenging for potential homebuyers.”
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 October 15, 2021
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Daily Value
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Monthly Value
|
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October 14
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September
|
|
6-month Treasury Security
|
0.06%
|
0.05%
|
|
1-year Treasury Security
|
0.10%
|
0.08%
|
|
3-year Treasury Security
|
0.62%
|
0.47%
|
|
5-year Treasury Security
|
1.05%
|
0.86%
|
|
10-year Treasury Security
|
1.52%
|
1.37%
|
|
12-month LIBOR
|
|
0.235% (Sept)
|
|
12-month MTA
|
|
0.084% (Sept)
|
|
11th District Cost of Funds
|
|
0.238% (Aug)
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|
Prime Rate
|
|
3.25% (3/20)
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