Rates moved lower in the past week, while the markets were very volatile.
For the week ending February 27, Freddie Mac announced that 30-year fixed rates moved down to 3.45% from 3.49% the week before. The average for 15-year loans decreased to 2.95% and the average for five-year ARMs moved down to 3.20%. A year ago, 30-year fixed rates averaged 4.35%, almost 1.00% higher than today. "Given the recent volatility of the ten-year Treasury yield, it's not surprising that rates on home loans again have dropped. These low rates combined with high consumer confidence continue to drive home sales upward, a trend that is likely to endure as we enter spring," 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 February 28, 2020
|
|
Daily Value
|
Monthly Value
|
|
|
February 27
|
January
|
|
6-month Treasury Security
|
1.33%
|
1.56%
|
|
1-year Treasury Security
|
1.18%
|
1.53%
|
|
3-year Treasury Security
|
1.08%
|
1.52%
|
|
5-year Treasury Security
|
1.11%
|
1.56%
|
|
10-year Treasury Security
|
1.30%
|
1.76%
|
|
12-month LIBOR
|
|
1.807% (Jan)
|
|
12-month MTA
|
|
1.966% (Jan)
|
|
11th District Cost of Funds
|
|
1.036% (Dec)
|
|
Prime Rate
|
|
4.75% (Oct)
|