Rates last week approached their lowest in the past two years, though they rose a bit at the end of the survey period.
For the week ending June 6, Freddie Mac announced that 30-year fixed rates fell to 3.82% from 3.99% the previous week. The average for 15-year loans decreased to 3.28% and the average for five-year ARMs moved down to 3.52%. A year ago, 30-year fixed rates averaged 4.54%, over 0.5% higher than today. "While the drop in rates is a good opportunity for consumers to save on their payments when purchasing, these low rates are also good news for current homeowners. With rates dipping below four percent, there are over $2 trillion of outstanding residential loans eligible to be refinanced – meaning the majority of what was originated in 2018 is now eligible," 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 June 7, 2019
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Daily Value
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Monthly Value
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June 6
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May
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6-month Treasury Security
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2.22%
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2.42%
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1-year Treasury Security
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2.02%
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2.34%
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3-year Treasury Security
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1.85%
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2.16%
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5-year Treasury Security
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1.88%
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2.19%
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10-year Treasury Security
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2.12%
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2.40%
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12-month LIBOR
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2.510% (May)
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12-month MTA
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2.510% (May)
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11th District Cost of Funds
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1.095% (Apr)
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Prime Rate
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5.50% (Dec)
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