For the week ending March 10, 30-year rates rose to 3.85% from 3.76% the week before.
In addition, 15-year loans increased to 3.09% and the average for five-year ARMs also climbed to 2.97%. A year ago, 30-year fixed rates averaged 3.05%, 0.80% lower than today. Attributed to Sam Khater, Chief Economist, Freddie Mac, “Following two weeks of declines, mortgage rates rose this week as U.S. Treasury yields increased. Over the long-term, we expect rates to continue to rise as inflation broadens and shortages increasingly impact many segments of the economy. However, uncertainty about the war in Ukraine is driving rate volatility that likely will continue in the short-term.”
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 March 11, 2022
|
Daily Value
|
Monthly Value
|
|
March 10
|
February
|
|
6-month Treasury Security
|
0.75%
|
0.64%
|
|
1-year Treasury Security
|
1.19%
|
1.00%
|
|
3-year Treasury Security
|
1.88%
|
1.65%
|
|
5-year Treasury Security
|
1.92%
|
1.81%
|
|
10-year Treasury Security
|
1.98%
|
1.93%
|
|
12-month LIBOR
|
|
1.288% (Feb)
|
|
12-month MTA
|
|
0.219% (Feb)
|
|
SOFR Index
|
|
1.042% (Feb)
|
|
Prime Rate
|
|
3.25% (3/20)
|