Interest Rates Down; Loan Applications Up

March 5, 2019
home-buying
Rates stayed at their lowest level in 12 months in the past week.

 

For the week ending February 28, Freddie Mac announced that 30-year fixed rates remained at 4.35%. The average for 15-year loans fell slightly to 3.77% and the average for five-year adjustables remained at 3.84%. A year ago, 30-year fixed rates averaged 4.43%, higher than today. "Rates on home loans remained mostly unchanged this week, while applications for new loans rose 5.3 percent from the previous week. The general decline in rates we have seen recently, combined with rebounding pending home sales, hint at a strong 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 March 1, 2019

 

Daily Value

Monthly Value

 

Feb 28

January

6-month Treasury Security

2.50%

2.51%

1-year Treasury Security

2.54%

2.58%

3-year Treasury Security

2.50%

2.52%

5-year Treasury Security

2.52%

2.54%

10-year Treasury Security

2.73%

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)