For the week ending October 20, 30-year rates rose to 6.94% from 6.92% the week before.
Rates moved up more slowly in the past week, but again moved up even further after the survey period ended. For the week ending October 20, 30-year rates rose to 6.94% from 6.92% the week before. In addition, 15-year loans increased to 6.23% and the average for five-year ARMs eased to 5.11%. A year ago, 30-year fixed rates averaged 3.09%, more than 3.50% lower than today. Attributed to Sam Khater, Chief Economist, Freddie Mac, “The 30-year fixed-rate mortgage continues to remain just shy of seven percent and is adversely impacting the housing market in the form of declining demand. Additionally, homebuilder confidence has dropped to half what it was just six months ago and construction, particularly single-family residential construction, continues to slow down.”
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 October 21, 2022
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Daily Value
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Monthly Value
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October 20
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September
|
|
6-month Treasury Security
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4.48%
|
3.71%
|
|
1-year Treasury Security
|
4.66%
|
3.89%
|
|
3-year Treasury Security
|
4.66%
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3.88%
|
|
5-year Treasury Security
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4.45%
|
3.70%
|
|
10-year Treasury Security
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4.24%
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3.52%
|
|
12-month LIBOR
|
|
4.781% (Sept)
|
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12-month MTA
|
|
1.689% (Sept)
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SOFR
|
|
1.050% (Sept)
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Prime Rate
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6.25% (9/22)
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