For the week ending October 21, 30-year rates rose to 3.09% from 3.05% the week before.
Mortgage rates continued to move higher in the past week. For the week ending October 21, 30-year rates rose to 3.09% from 3.05% the week before. In addition, 15-year loans increased to 2.33% and the average for five-year ARMs fell slightly to 2.54%. A year ago, 30-year fixed rates averaged 2.80%, approximately .25% lower than today. Attributed to Sam Khater, Chief Economist, Freddie Mac - "Mortgage rates continued to rise this week due to the trajectory of both the economy and the pandemic. Even as the availability of existing homes is improving, prices remain high due to homebuyer demand and limitations on housing starts and permits resulting from the ongoing labor and material shortages. Despite these countervailing forces, we expect the housing market to remain strong as we head into the end of the year.”
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 22, 2021
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Daily Value
|
Monthly Value
|
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October 21
|
September
|
|
6-month Treasury Security
|
0.06%
|
0.05%
|
|
1-year Treasury Security
|
0.12%
|
0.08%
|
|
3-year Treasury Security
|
0.78%
|
0.47%
|
|
5-year Treasury Security
|
1.23%
|
0.86%
|
|
10-year Treasury Security
|
1.68%
|
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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