Rates Fall Slightly

November 9, 2021
Rates-Fall-Slightly
For the week ending November 4, 30-year rates fell to 3.09% from 3.14% the week before.

 

15-year loans eased to 2.35% and the average for five-year ARMs decreased to 2.54%. A year ago, 30-year fixed rates averaged 2.78%, more than .25% lower than today. Attributed to Sam Khater, Chief Economist, Freddie Mac - "While mortgage rates fell after several weeks on the rise, we expect future upticks due to stronger economic data and as the Federal Reserve pulls back on its stimulus. That said, the housing market remains favorable for consumers, as rates remain below pre-pandemic levels and continue to support sustainable purchase and refinance opportunities.” 

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 November 5, 2021

Daily Value

Monthly Value

November 4

October

6-month Treasury Security

0.07%

0.06%

1-year Treasury Security

0.14%

0.11%

3-year Treasury Security

0.69%

0.67%

5-year Treasury Security

1.10%

1.11%

10-year Treasury Security

1.53%

1.58%

12-month LIBOR

0.361% (Oct)

12-month MTA

0.083% (Oct)

11th District Cost of Funds

0.225% (Sept)

Prime Rate

3.25% (3/20)