Rates Continue to Fall

February 25, 2019
rates_fall
Rates again fell to their lowest level in 12 months in the past week.

 

For the week ending February 21, Freddie Mac announced that 30-year fixed rates moved down to 4.35% from 4.37% the week before. The average for 15-year loans also fell to 3.78% and the average for five-year adjustables decreased to 3.84%. A year ago, 30-year fixed rates averaged 4.40%, higher than today. Attributed to -- "Rates on a home loan fell for the third consecutive week, continuing the general downward trend that began late last year. Wages are growing on par with home prices for the first time in years, and with more inventory available, spring home sales should help the market begin to recover from the malaise of the last few months," 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 22, 2019

 

Daily Value

Monthly Value

 

Feb 21

January

6-month Treasury Security

2.51%

2.51%

1-year Treasury Security

2.55%

2.58%

3-year Treasury Security

2.49%

2.52%

5-year Treasury Security

2.51%

2.54%

10-year Treasury Security

2.69%

2.71%

12-month LIBOR

 

3.017% (Jan)

12-month MTA

 

2.397% (Jan)

11th District Cost of Funds

 

1.056% (Dec)

Prime Rate

 

5.50% (Dec)