For the week ending February 3, 30-year rates remained at 3.55%.
In addition, 15-year loans fell to 2.77% and the average for five-year ARMs increased slightly to 2.71%. A year ago, 30-year fixed rates averaged 2.73%, more than .75% lower than today. Attributed to Sam Khater, Chief Economist, Freddie Mac, “The economy lost some momentum in January, leaving mortgage rates unchanged from last week and relatively flat for the third consecutive week. This stagnation reflects the economic impact of the Omicron variant of COVID-19, which we believe will subside in the coming months. As the economic recovery continues going into the spring and summer, mortgage rates are expected to resume their upward trajectory. In the meantime, recent data suggests that homebuyer demand continues to be elevated as supply remains low, driving higher home prices.”
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 February 4, 2022
|
Daily Value
|
Monthly Value
|
|
February 3
|
January
|
|
6-month Treasury Security
|
0.48%
|
0.33%
|
|
1-year Treasury Security
|
0.78%
|
0.55%
|
|
3-year Treasury Security
|
1.42%
|
1.25%
|
|
5-year Treasury Security
|
1.66%
|
1.54%
|
|
10-year Treasury Security
|
1.82%
|
1.76%
|
|
12-month LIBOR
|
|
0.962% (Jan)
|
|
12-month MTA
|
|
0.142% (Jan)
|
|
SOFR Index
|
|
1.042% (Jan)
|
|
Prime Rate
|
|
3.25% (3/20)
|