For the week ending April 7, 30-year rates rose to 4.72% from 4.67% the week before.
In addition, 15-year loans increased to 3.91% and the average for five-year ARMs also climbed to 3.56%. A year ago, 30-year fixed rates averaged 3.13%, more than 1.50% lower than today. Attributed to Sam Khater, Chief Economist, Freddie Mac, “Mortgage rates have increased 1.5 percentage points over the last three months alone, the fastest three-month rise since May of 1994. The increase in mortgage rates has softened purchase activity, as the monthly payment for those looking to buy a home has risen by at least 20 percent from a year ago.”
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 April 8, 2022
|
Daily Value
|
Monthly Value
|
|
April 7
|
March
|
|
6-month Treasury Security
|
1.15%
|
0.86%
|
|
1-year Treasury Security
|
1.78%
|
1.34%
|
|
3-year Treasury Security
|
2.66%
|
2.09%
|
|
5-year Treasury Security
|
2.70%
|
2.11%
|
|
10-year Treasury Security
|
2.66%
|
2.13%
|
|
12-month LIBOR
|
|
2.172% (March)
|
|
12-month MTA
|
|
0.324% (March)
|
|
SOFR Index
|
|
1.043% (March)
|
|
Prime Rate
|
|
3.50% (3/22)
|