For the week ending September 7, 30-year rates fell to 7.12% from 7.18% the week before.
Rates eased last week but reversed course at the end of the survey period. For the week ending September 7, 30-year rates fell to 7.12% from 7.18% the week before. In addition, 15-year loans decreased to 6.52%. A year ago, 30-year fixed rates averaged 5.89%, approximately 1.25% lower than today. Attributed to Sam Khater, Chief Economist, Freddie Mac, “For the fourth consecutive week, the 30-year fixed-rate mortgage hovered above seven percent. The economy remains buoyant, which is encouraging for consumers. Though while inflation has decelerated, firmer economic data have put upward pressure on mortgage rates which, in the face of affordability challenges, are straining potential homebuyers.” 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 September 8, 2023
|
Daily Value
|
Monthly Value
|
|
September 7
|
August
|
|
6-month Treasury Security
|
5.50%
|
5.54%
|
|
1-year Treasury Security
|
5.40%
|
5.37%
|
|
3-year Treasury Security
|
4.66%
|
4.59%
|
|
5-year Treasury Security
|
4.38%
|
4.31%
|
|
10-year Treasury Security
|
4.27%
|
4.17%
|
|
6-month LIBOR
|
|
5.881%
|
|
12-month MTA
|
|
4.800%
|
|
SOFR (30-Day Average)
|
|
5.311%
|
|
Prime Rate
|
|
8.50% (7/23)
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