Rates continue to rise in the past week.
For the week ending March 18, Freddie Mac announced that 30-year fixed rates increased to 3.09% from 3.05% the week before. The average for 15-year loans rose to 2.40% and the average for five-year ARMs increased to 2.79%. A year ago, 30-year fixed rates averaged 3.65%, over 0.50% higher than today. "As expected, rates on home loans continued to inch up but are still hovering around three percent, keeping interested buyers in the market. However, residential construction has declined for two consecutive months and given the very low inventory environment, competition among potential homebuyers is a challenging reality, especially for first-time homebuyers,” 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 Rates
Updated March 19, 2021
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Daily Value
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Monthly Value
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March 18
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February
|
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6-month Treasury Security
|
0.03%
|
0.06%
|
|
1-year Treasury Security
|
0.08%
|
0.07%
|
|
3-year Treasury Security
|
0.33%
|
0.21%
|
|
5-year Treasury Security
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0.86%
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0.54%
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10-year Treasury Security
|
1.71%
|
1.26%
|
|
12-month LIBOR
|
|
0.284% (Feb)
|
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12-month MTA
|
|
0.148% (Feb)
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11th District Cost of Funds
|
|
0.454% (Jan)
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Prime Rate
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|
3.25% (3/20)
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