For the week ending February 16, 30-year rates rose to 6.32% from 6.12% the week before.
Rates moved up last week in reaction to continued strong economic news and the most recent inflation numbers. For the week ending February 16, 30-year rates rose to 6.32% from 6.12% the week before. In addition, 15-year loans increased to 5.51%. A year ago, 30-year fixed rates averaged 3.98%, more than 2.0% lower than today. Attributed to Sam Khater, Chief Economist, Freddie Mac, “Mortgage rates moved up for the second consecutive week. The economy is showing signs of resilience, mainly due to consumer spending, and rates are increasing. Overall housing costs are also increasing and therefore impacting inflation, which continues to persist.”
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 February 17, 2023
|
Daily Value
|
Monthly Value
|
|
February 16
|
January
|
|
6-month Treasury Security
|
4.98%
|
4.80%
|
|
1-year Treasury Security
|
4.99%
|
4.69%
|
|
3-year Treasury Security
|
4.35%
|
3.91%
|
|
5-year Treasury Security
|
4.06%
|
3.64%
|
|
10-year Treasury Security
|
3.86%
|
3.53%
|
|
12-month LIBOR
|
|
5.315%
|
|
12-month MTA
|
|
3.138%
|
|
SOFR
|
|
4.310%
|
|
Prime Rate
|
|
7.75% (2/23)
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