Rates moved lower again last week, approaching the 3.0% mark.
For the week ending April 15, Freddie Mac announced that 30-year fixed rates decreased to 3.04% from 3.13% the week before. The average for 15-year loans fell to 2.35% and the average for five-year ARMs eased to 2.80%. A year ago, 30-year fixed rates averaged 3.31%, 0.27% higher than today. "Mortgage rates took another dip this week as the 30-year fixed-rate mortgage decreased by almost ten basis points, week over week. The economy is improving on the demand side and on the supply side, a variety of goods and materials remain scarce. As a result of this imbalance, pricing pressures are building and causing inflation to rise. Despite the pause in rates recently, we expect them to increase modestly for the remainder of this year,” 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 April 16, 2021
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Daily Value
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Monthly Value
|
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April 15
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March
|
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6-month Treasury Security
|
0.04%
|
0.05%
|
|
1-year Treasury Security
|
0.06%
|
0.08%
|
|
3-year Treasury Security
|
0.32%
|
0.32%
|
|
5-year Treasury Security
|
0.81%
|
0.82%
|
|
10-year Treasury Security
|
1.56%
|
1.61%
|
|
12-month LIBOR
|
|
0.281% (March)
|
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12-month MTA
|
|
0.128% (March)
|
|
11th District Cost of Funds
|
|
0.408% (Feb)
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|
Prime Rate
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|
3.25% (3/20)
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