The downward trend in rates was interrupted last week…
For the week ending March 7, Freddie Mac announced that 30-year fixed rates rose to 4.41% from 4.35% the week before. The average for 15-year loans rose to 3.83% and the average for five-year adjustables increased to 3.87%. A year ago, 30-year fixed rates averaged 4.46%, higher than today. "While rates on home loans very modestly rose to 4.41 percent this week, they remain below year-ago levels for the fourth week in a row. In late 2018, rates rose over a full percentage point from the prior year, which was one of the main reasons that weakness in home sales continued into early 2019. However, the impact of recent lower rates and a strong labor market has led to a rise in purchase demand as we start 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 March 8, 2019
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Daily Value
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Monthly Value
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March 7
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February
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6-month Treasury Security
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2.52%
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2.50%
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1-year Treasury Security
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2.52%
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2.55%
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3-year Treasury Security
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2.44%
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2.48%
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5-year Treasury Security
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2.44%
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2.49%
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10-year Treasury Security
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2.64%
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2.68%
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12-month LIBOR
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2.865% (Feb)
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12-month MTA
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2.446% (Feb)
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11th District Cost of Funds
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1.125% (Jan)
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Prime Rate
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5.50% (Dec)
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