Rates on the Rise

November 23, 2021
Rates-on-the-Rise
For the week ending November 18, 30-year rates increased to 3.10% from 2.98% the week before.  

 

In addition, 15-year loans rose to 2.39% and the average for five-year ARMs eased to 2.49%. A year ago, 30-year fixed rates averaged 2.78%, more than .25% high than today. Attributed to Sam Khater, Chief Economist, Freddie Mac - "The combination of rising inflation and consumer spending is driving mortgage rates higher. Shoppers looking to buy a home are fueling strong demand while ongoing inventory shortages are not improving in the presence of higher home prices. This reality illustrates the challenging situation facing the housing market.”

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 19, 2021

Daily Value

Monthly Value

November 18

October

6-month Treasury Security

0.06%

0.06%

1-year Treasury Security

0.18%

0.11%

3-year Treasury Security

0.84%

0.67%

5-year Treasury Security

1.22%

1.11%

10-year Treasury Security

1.59%

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)