For the week ending August 30, Freddie Mac announced that 30-year fixed rates increased one tick to 4.52% from 4.51% the week before.
The average for 15-year loans fell slightly to 3.97% and the average for five-year adjustables decreased to 3.85%. A year ago, 30-year fixed rates averaged 3.82%. Attributed to Sam Khater, Chief Economist, Freddie Mac --"While sales and price growth have softened these last few months, this leveling of rates may be helping more buyers reach the market. Heading into the fall, the recent slowdown in price appreciation in several markets is good news for the many prospective buyers who were priced out earlier this year. However, despite the economy in the second quarter expanding at its fastest rate in nearly four years, Freddie Mac is still expecting only a slight increase (0.2 percent) in total home sales in 2018 (6.14 million) compared to last year (6.12 million). Given the strength of the economy, it is possible for home sales to pick up even more before year’s end. The key factor will be if affordably-priced inventory increases enough to continue this recent trend of cooling price appreciation." 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 Rate Mortgages
Updated August 31, 2018
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Daily Value
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Monthly Value
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August 30
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July
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6-month Treasury Security
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2.28%
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2.17%
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1-year Treasury Security
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2.47%
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2.39%
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3-year Treasury Security
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2.72%
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2.70%
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5-year Treasury Security
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2.75%
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2.78%
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10-year Treasury Security
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2.86%
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2.89%
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12-month LIBOR
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2.827% (July)
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12-month MTA
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1.844% (July)
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11th District Cost of Funds
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0.934% (June)
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Prime Rate
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5.00% (July)
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