For the week ending September 22, 30-year rates rose to 6.29% from 6.02% the week before.
Mortgage rates continued their upward climb last week as the meeting of the Federal Reserve approached. For the week ending September 22, 30-year rates rose to 6.29% from 6.02% the week before. In addition, 15-year loans climbed to 5.44% and the average for five-year ARMs increased to 4.97%. A year ago, 30-year fixed rates averaged 2.88%, more than 3.00% lower than today. Attributed to Sam Khater, Chief Economist, Freddie Mac, “The housing market continues to face headwinds as mortgage rates increase again this week, following the 10-year Treasury yield’s jump to its highest level since 2011. Impacted by higher rates, house prices are softening, and home sales have decreased. However, the number of homes for sale remains well below normal levels.”
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 September 23, 2022
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Daily Value
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Monthly Value
|
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September 22
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August
|
|
6-month Treasury Security
|
3.87%
|
3.15%
|
|
1-year Treasury Security
|
4.08%
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3.28%
|
|
3-year Treasury Security
|
4.12%
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3.23%
|
|
5-year Treasury Security
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3.91%
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3.03%
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|
10-year Treasury Security
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3.70%
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2.90%
|
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12-month LIBOR
|
|
4.223% (Aug)
|
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12-month MTA
|
|
1.372% (Aug)
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SOFR
|
|
1.048% (Aug)
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|
Prime Rate
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|
5.50% (7/22)
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