For the week ending June 29, 30-year rates rose to 6.71% from 6.67% the week before.
Rates continue to firm in the face of solid economic news and a hawkish tone from the Fed. For the week ending June 29, 30-year rates rose to 6.71% from 6.67% the week before. In addition, 15-year loans increased to 6.06%. A year ago, 30-year fixed rates averaged 5.70%, approximately 1.0% lower than today. Attributed to Sam Khater, Chief Economist, Freddie Mac, “Mortgage rates have hovered in the six to seven percent range for over six months and, despite affordability headwinds, homebuyers have adjusted and driven new home sales to its highest level in more than a year. New home sales have rebounded more robustly than the resale market due to a marginally greater supply of new construction. The improved demand has led to a firming of prices, which have now increased for several months in a row.”
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 June 30, 2023
|
Daily Value
|
Monthly Value
|
|
June 29
|
May
|
|
6-month Treasury Security
|
5.50%
|
5.27%
|
|
1-year Treasury Security
|
5.41%
|
4.91%
|
|
3-year Treasury Security
|
4.49%
|
3.82%
|
|
5-year Treasury Security
|
4.14%
|
3.59%
|
|
10-year Treasury Security
|
3.85%
|
3.57%
|
|
12-month LIBOR
|
|
5.716%
|
|
12-month MTA
|
|
4.214%
|
|
SOFR (30-Day Average)
|
|
5.041%
|
|
Prime Rate
|
|
8.25% (5/23)
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