For the week ending June 8, 30-year rates fell to 6.71% from 6.79% the week before.
Rates eased in the past week as the debt ceiling “crisis” was resolved at least for now. The strong jobs report for May served to mute the response to the debt ceiling solution, with the Fed scheduled to meet this week. For the week ending June 8, 30-year rates fell to 6.71% from 6.79% the week before. In addition, 15-year loans decreased to 6.07%. A year ago, 30-year fixed rates averaged 5.23%, more than 1.0% lower than today. Attributed to Sam Khater, Chief Economist, Freddie Mac, “Mortgage rates decreased after a three-week climb. While elevated rates and other affordability challenges remain, inventory continues to be the biggest obstacle for prospective 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 June 9, 2023
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Daily Value
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Monthly Value
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June 8
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May
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6-month Treasury Security
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5.39%
|
5.27%
|
|
1-year Treasury Security
|
5.12%
|
4.91%
|
|
3-year Treasury Security
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4.17%
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3.82%
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5-year Treasury Security
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3.87%
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3.59%
|
|
10-year Treasury Security
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3.73%
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3.57%
|
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12-month LIBOR
|
|
5.716%
|
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12-month MTA
|
|
4.214%
|
|
SOFR (30-Day Average)
|
|
5.041%
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Prime Rate
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8.25% (5/23)
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