For the week ending November 10, 30-year rates rose to 7.08% from 6.95% the week before.
Rates moved up last week according to the Freddie Mac survey, but moved down significantly on Thursday after the survey was released -- in reaction to the inflation data. For the week ending November 10, 30-year rates rose to 7.08% from 6.95% the week before. In addition, 15-year loans increased to 6.38% and the average for five-year ARMs climbed to 6.06%. A year ago, 30-year fixed rates averaged 2.98%, more than 4.0% lower than today. Attributed to Sam Khater, Chief Economist, Freddie Mac, “As the housing market adjusts to rapidly tightening monetary policy, mortgage rates again surpassed seven percent. The housing market is the most interest-rate sensitive segment of the economy, and the impact rates have on homebuyers continues to evolve. Home sales have declined significantly and, as we approach year-end, they are not expected to improve.”
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 November 11, 2022
|
Daily Value
|
Monthly Value
|
|
November 9
|
October
|
|
6-month Treasury Security
|
4.59%
|
4.31%
|
|
1-year Treasury Security
|
4.75%
|
4.43%
|
|
3-year Treasury Security
|
4.49%
|
4.38%
|
|
5-year Treasury Security
|
4.27%
|
4.18%
|
|
10-year Treasury Security
|
4.12%
|
3.98%
|
|
12-month LIBOR
|
|
5.445% (Oct)
|
|
12-month MTA
|
|
2.049% (Oct)
|
|
SOFR
|
|
1.053% (Oct)
|
|
Prime Rate
|
|
7.00% (11/22)
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