Rates remained below the 3.0% level last week.
For the week ending April 29, Freddie Mac announced that 30-year fixed rates increased slightly to 2.98% from 2.97% the week before. The average for 15-year loans rose to 2.31% and the average for five-year ARMs fell sharply to 2.64%. A year ago, 30-year fixed rates averaged 3.23%, 0.25% higher than today. "In light of the rising COVID caseloads globally, U.S. Treasury yields stopped moving up a month ago and have remained within a narrow range as the market digests incoming economic data. The good news is that with rates under three percent, refinancing continues to be attractive for many borrowers who financed before 2020. But, for eager buyers, especially first-time homebuyers, inventory continues to be extremely tight and competition for available homes to purchase remains high,” 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 30, 2021
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Daily Value
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Monthly Value
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April 29
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March
|
|
6-month Treasury Security
|
0.04%
|
0.05%
|
|
1-year Treasury Security
|
0.05%
|
0.08%
|
|
3-year Treasury Security
|
0.35%
|
0.32%
|
|
5-year Treasury Security
|
0.86%
|
0.82%
|
|
10-year Treasury Security
|
1.65%
|
1.61%
|
|
12-month LIBOR
|
|
0.281% (March)
|
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12-month MTA
|
|
0.128% (March)
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|
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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