Rates hit a record low again in the past week – the 12th time this year we have set a new standard for low rates.
For the week ending November 5, Freddie Mac announced that 30-year fixed rates fell to 2.78% from 2.81% the week before. The average for 15-year loans remained at 2.32% and the average for five-year ARMs rose slightly to 2.89%. A year ago, 30-year fixed rates averaged 3.69%, almost 1.00% higher than today. "Rates on home loans hit another record low, the twelfth time this year, due to economic and political ambiguity. Despite the uncertainty that we’ve all experienced this year, the housing market, buoyed by low rates, continues to be a bright spot," 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 November 6, 2020
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Daily Value
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Monthly Value
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Nov 5
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October
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6-month Treasury Security
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0.10%
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0.11%
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1-year Treasury Security
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0.12%
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0.13%
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3-year Treasury Security
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0.18%
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0.19%
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5-year Treasury Security
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0.33%
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0.34%
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10-year Treasury Security
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0.79%
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0.74%
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12-month LIBOR
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0.330% (Oct)
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12-month MTA
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0.621% (Oct)
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11th District Cost of Funds
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0.523% (Sept)
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Prime Rate
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3.25% (March)
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