For the week ending September 1, 30-year rates rose to 5.66% from 5.55% the week before.
Mortgage rates rose again in the past week and continued to rise after the survey was released. For the week ending September 1, 30-year rates rose to 5.66% from 5.55% the week before. In addition, 15-year loans climbed to 4.98% and the average for five-year ARMs increased to 4.51%. A year ago, 30-year fixed rates averaged 2.87%, more than 2.50% lower than today. Attributed to Sam Khater, Chief Economist, Freddie Mac, “The market’s renewed perception of a more aggressive monetary policy stance has driven mortgage rates up to almost double what they were a year ago. The increase in mortgage rates is coming at a particularly vulnerable time for the housing market as sellers are recalibrating their pricing due to lower purchase demand, likely resulting in continued price growth deceleration.”
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 26, 2022
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Daily Value
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Monthly Value
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August 25
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August
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6-month Treasury Security
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3.34%
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3.15%
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|
1-year Treasury Security
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3.51%
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3.28%
|
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3-year Treasury Security
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3.54%
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3.23%
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5-year Treasury Security
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3.39%
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3.03%
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10-year Treasury Security
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3.26%
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2.90%
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12-month LIBOR
|
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4.223% (Aug)
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12-month MTA
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|
1.372% (Aug)
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SOFR
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|
1.048% (Aug)
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Prime Rate
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5.50% (7/22)
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