Rates moved lower for the second straight week.
For the week ending May 9, Freddie Mac announced that 30-year fixed rates fell to 4.10% from 4.14% the previous week. The average for 15-year loans decreased to 3.57% and the average for five-year ARMs moved down to 3.63%. A year ago, 30-year fixed rates averaged 4.55%, almost 1/2 percent higher than today. "Investors wary of the current economic situation due to ongoing trade disputes resorted to the bond market, causing the 10-year treasury yield to decrease. A combination of low interest rates, a strong job market and modest wage growth should spur homebuyer interest and also serve as an incentive for homeowners looking to refinance," 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 May 10, 2019
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Daily Value
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Monthly Value
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May 9
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April
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6-month Treasury Security
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2.46%
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2.46%
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1-year Treasury Security
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2.36%
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2.42%
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3-year Treasury Security
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2.22%
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2.33%
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5-year Treasury Security
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2.25%
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2.43%
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10-year Treasury Security
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2.45%
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2.53%
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12-month LIBOR
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2.710% (Apr)
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12-month MTA
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2.504% (Apr)
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11th District Cost of Funds
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0.958% (Mar)
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Prime Rate
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5.50% (Dec)
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