Rates officially hit their all-time lows last week.
For the week ending March 5, Freddie Mac announced that 30-year fixed rates moved down to 3.29% from 3.45% the week before. The average for 15-year loans decreased to 2.79% and the average for five-year ARMs moved down to 3.18%. A year ago, 30-year fixed rates averaged 4.21%, over 1.00% higher than today. "The average 30-year fixed-rate home loan hit a record 3.29 percent this week, the lowest level in its nearly 50-year history. Meanwhile, applications for home loans increased 10 percent last week from one year ago and show no signs of slowing down. Given these strong indicators in rates and sales, as well as recent increases in new construction, it’s clear the housing market continues to be a positive force for the broader economy," 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 6, 2020
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Daily Value
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Monthly Value
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March 5
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February
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6-month Treasury Security
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0.53%
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1.51%
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1-year Treasury Security
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0.48%
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1.41%
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3-year Treasury Security
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0.61%
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1.31%
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5-year Treasury Security
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0.67%
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1.32%
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10-year Treasury Security
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0.92%
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1.50%
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12-month LIBOR
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1.382% (Feb)
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12-month MTA
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1.871% (Feb)
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11th District Cost of Funds
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0.984% (Jan)
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Prime Rate
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4.25% (March)
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