For the week ending September 21, 30-year rates rose one tick to 7.19% from 7.18% the week before.
Rates were stable last week and then rose moderately after the Fed meeting which was after the survey period ended. For the week ending September 21, 30-year rates rose one tick to 7.19% from 7.18% the week before. In addition, 15-year loans increased to 6.54%. A year ago, 30-year fixed rates averaged 6.29%, less than 1.0% lower than today. Attributed to Sam Khater, Chief Economist, Freddie Mac, “Mortgage rates continue to linger above seven percent as the Federal Reserve paused their interest rate hikes. Given these high rates, housing demand is cooling off and now homebuilders are feeling the effect. Builder sentiment declined for the first time in several months and construction levels have dipped to a three-year low, which could have an impact on the already low housing supply.”
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 22, 2023
|
Daily Value
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Monthly Value
|
|
September 21
|
August
|
|
6-month Treasury Security
|
5.52%
|
5.54%
|
|
1-year Treasury Security
|
5.46%
|
5.37%
|
|
3-year Treasury Security
|
4.85%
|
4.59%
|
|
5-year Treasury Security
|
4.61%
|
4.31%
|
|
10-year Treasury Security
|
4.49%
|
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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