Rates fell to their lowest level in 12 months in the past week.
For the week ending February 14, Freddie Mac announced that 30-year fixed rates moved down to 4.37% from 4.41% the week before. The average for 15-year loans also fell to 3.81% and the average for five-year adjustables decreased to 3.88%. A year ago, 30-year fixed rates averaged 4.38%, virtually the same as today. "The combination of cooling inflation and slower global economic growth led rates on home loans to drift down to the lowest levels in a year. While housing activity has clearly softened over the last nine months and the lingering effects of higher rates from last year are still being felt, lower rates and a strong job market should rekindle demand for the spring homebuying season," said Sam Khater, Chief Economist, Freddie Mac.
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 February 15, 2019
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Daily Value
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Monthly Value
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February 14
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January
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6-month Treasury Security
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2.51%
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2.51%
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1-year Treasury Security
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2.53%
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2.58%
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3-year Treasury Security
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2.48%
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2.52%
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5-year Treasury Security
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2.48%
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2.54%
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10-year Treasury Security
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2.66%
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2.71%
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12-month LIBOR
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3.017% (Jan)
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12-month MTA
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2.397% (Jan)
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11th District Cost of Funds
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1.056% (Dec)
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Prime Rate
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5.50% (Dec)
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