For the week ending January 6, 30-year rates moved up to 3.22% from 3.11% the week before.
In addition, 15-year loans rose to 2.43% and the average for five-year ARMs remained at 2.41%. A year ago, 30-year fixed rates averaged 2.67%, more than .50% lower than today. Attributed to Sam Khater, Chief Economist, Freddie Mac, “Mortgage rates increased during the first week of 2022 to the highest level since May 2020 and are more than half a percent higher than January 2021. With higher inflation, promising economic growth and a tight labor market, we expect rates will continue to rise. The impact of higher rates on purchase demand remains modest so far given the current first-time homebuyer growth.” 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 January 7, 2022
|
Daily Value
|
Monthly Value
|
|
January 6
|
December
|
|
6-month Treasury Security
|
0.23%
|
0.15%
|
|
1-year Treasury Security
|
0.45%
|
0.30%
|
|
3-year Treasury Security
|
1.15%
|
0.95%
|
|
5-year Treasury Security
|
1.47%
|
1.23%
|
|
10-year Treasury Security
|
1.73%
|
1.47%
|
|
12-month LIBOR
|
|
0.583% (Dec)
|
|
12-month MTA
|
|
0.104% (Dec)
|
|
SOFR Index
|
|
1.042% (Dec)
|
|
Prime Rate
|
|
3.25% (3/20)
|