For the week ending June 9, 30-year rates rose to 5.23% from 5.09% the week before.
In addition, 15-year loans increased 4.38% and the average for five-year ARMs rose to 4.12%. A year ago, 30-year fixed rates averaged 2.96%, over 2.25% lower than today. Attributed to Sam Khater, Chief Economist, Freddie Mac, “After little movement the last few weeks, mortgage rates rose again on the back of increased economic activity and incoming inflation data. The housing market is incredibly rate-sensitive, so as mortgage rates increase suddenly, demand again is pulling back. The material decline in purchase activity, combined with the rising supply of homes for sale, will cause a deceleration in price growth to more normal levels, providing some relief for buyers interested in purchasing a home.”
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 June 10, 2022
|
Daily Value
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Monthly Value
|
|
June 9
|
May
|
|
6-month Treasury Security
|
1.81%
|
1.49%
|
|
1-year Treasury Security
|
2.35%
|
2.06%
|
|
3-year Treasury Security
|
2.99%
|
2.79%
|
|
5-year Treasury Security
|
3.07%
|
2.87%
|
|
10-year Treasury Security
|
3.04%
|
2.90%
|
|
12-month LIBOR
|
|
2.775% (May)
|
|
12-month MTA
|
|
0.644% (May)
|
|
SOFR Index
|
|
1.044% (May)
|
|
Prime Rate
|
|
4.00% (5/22)
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