For the week ending December 8, 30-year rates fell to 6.33% from 6.49% the week before.
Rates continued to ease in the past week. For the week ending December 8, 30-year rates fell to 6.33% from 6.49% the week before. In addition, 15-year loans decreased to 5.67%. A year ago, 30-year fixed rates averaged 3.01%, more than 3.00% lower than today. Attributed to Sam Khater, Chief Economist, Freddie Mac, “Mortgage rates decreased for the fourth consecutive week, due to increasing concerns over lackluster economic growth. Over the last four weeks, mortgage rates have declined three quarters of a point, the largest decline since 2008. While the decline in rates has been large, homebuyer sentiment remains low with no major positive reaction in purchase demand to these lower rates.”
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 December 9, 2022
|
Daily Value
|
Monthly Value
|
|
December 8
|
November
|
|
6-month Treasury Security
|
4.71%
|
4.61%
|
|
1-year Treasury Security
|
4.71%
|
4.73%
|
|
3-year Treasury Security
|
4.04%
|
4.34%
|
|
5-year Treasury Security
|
3.71%
|
4.06%
|
|
10-year Treasury Security
|
3.48%
|
3.89%
|
|
12-month LIBOR
|
|
5.572% (Nov)
|
|
12-month MTA
|
|
2.428% (Nov)
|
|
SOFR
|
|
1.056% (Nov)
|
|
Prime Rate
|
|
7.00% (11/22)
|