For the week ending August 18, 30-year rates fell to 5.13% from 5.22% the week before.
Mortgage rates eased back a bit in the past week, but rose after the survey was released. For the week ending August 18, 30-year rates fell to 5.13% from 5.22% the week before. In addition, 15-year loans eased to 4.55% and the average for five-year ARMs decreased to 4.39%. A year ago, 30-year fixed rates averaged 2.86%, more than 2.00% lower than today. Attributed to Sam Khater, Chief Economist, Freddie Mac, “Inflation appears to be beyond its peak, which has stopped the rapid increase in mortgage rates that the housing market was experiencing earlier this year. The market continues to absorb the cumulative impact of the large price and rate increases that led to a plunge in affordability. As a result, over the rest of the year purchase demand likely will continue to drag, supply will modestly increase, and home price growth will decelerate.”
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 August 19, 2022
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Daily Value
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Monthly Value
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August 18
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July
|
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6-month Treasury Security
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3.12%
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2.87%
|
|
1-year Treasury Security
|
3.24%
|
3.02%
|
|
3-year Treasury Security
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3.23%
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3.03%
|
|
5-year Treasury Security
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3.02%
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2.96%
|
|
10-year Treasury Security
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2.88%
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2.90%
|
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12-month LIBOR
|
|
3.742% (July)
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12-month MTA
|
|
1.104% (July)
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SOFR
|
|
1.046% (July)
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|
Prime Rate
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5.50% (7/22)
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