For the week ending July 20, 30-year rates fell to 6.78% from 6.96% the week before.
Rates eased last week in reaction to positive inflation news. For the week ending July 20, 30-year rates fell to 6.78% from 6.96% the week before. In addition, 15-year loans decreased to 6.06%. A year ago, 30-year fixed rates averaged 5.54%, more than 1.0% lower than today. Attributed to Sam Khater, Chief Economist, Freddie Mac, “As inflation slows, mortgage rates decreased this week. Still, the ongoing shortage of previously owned homes for sale has been a detriment to homebuyers looking to take advantage of declining rates. On the other hand, homebuilders have an edge in today’s market, and incoming data shows that homebuilder sentiment continues to rise.” 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 July 21, 2023
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Daily Value
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Monthly Value
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July 20
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June
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6-month Treasury Security
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5.52%
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5.42%
|
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1-year Treasury Security
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5.35%
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5.24%
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3-year Treasury Security
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4.43%
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4.27%
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5-year Treasury Security
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4.08%
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3.95%
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10-year Treasury Security
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3.85%
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3.75%
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12-month LIBOR
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6.041%
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12-month MTA
|
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4.430%
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SOFR (30-Day Average)
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5.067%
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Prime Rate
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8.25% (5/23)
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