For the week ending July 27, 30-year rates rose to 6.81% from 6.78% the week before.
Rates rose slightly last week as the Fed meeting approached. For the week ending July 27, 30-year rates rose to 6.81% from 6.78% the week before. In addition, 15-year loans increased to 6.11%. A year ago, 30-year fixed rates averaged 5.30%, approximately 1.5% lower than today. Attributed to Sam Khater, Chief Economist, Freddie Mac, “Mortgage rates inched up slightly after a significant decline last week. Higher interest rates continue to dampen activity in interest rate-sensitive sectors, such as housing. However, overall U.S. consumer confidence is unwavering, surging to a two-year high in the Conference Board’s Consumer Confidence Index for July 2023. Rising consumer confidence often leads to greater spending, which could drive more consumers into the housing market.”
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 28, 2023
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Daily Value
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Monthly Value
|
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July 27
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June
|
|
6-month Treasury Security
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5.56%
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5.42%
|
|
1-year Treasury Security
|
5.40%
|
5.24%
|
|
3-year Treasury Security
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4.58%
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4.27%
|
|
5-year Treasury Security
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4.24%
|
3.95%
|
|
10-year Treasury Security
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4.01%
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3.75%
|
|
12-month LIBOR
|
|
6.041%
|
|
12-month MTA
|
|
4.430%
|
|
SOFR (30-Day Average)
|
|
5.067%
|
|
Prime Rate
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|
8.50% (7/23)
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