Rates continued to fall last week, bringing even more good news for the real estate markets.
For the week ending January 30, Freddie Mac announced that 30-year fixed rates moved down to 3.51% from 3.60% the week before. The average for 15-year loans decreased to 3.00% and the average for five-year ARMs moved down to 3.24%. A year ago, 30-year fixed rates averaged 4.46%, almost 1.00% higher than today. "Rates on home loans were the second lowest in three years, supporting homebuyer demand and leading to higher refinancing activity. Borrowers who take advantage of these low rates can improve their cash flow by lowering their monthly payments, giving them more money to spend or save," 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 January 31, 2020
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Daily Value
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Monthly Value
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Jan 30
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December
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6-month Treasury Security
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1.57%
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1.58%
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1-year Treasury Security
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1.48%
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1.55%
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3-year Treasury Security
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1.37%
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1.63%
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5-year Treasury Security
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1.39%
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1.68%
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10-year Treasury Security
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1.57%
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1.86%
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12-month LIBOR
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1.996% (Dec)
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12-month MTA
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2.053% (Dec)
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11th District Cost of Funds
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1.035% (Nov)
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Prime Rate
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4.75% (Oct)
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