Rates were slightly higher in the past week.
For the week ending June 3, Freddie Mac announced that 30-year fixed rates increased to 2.99% from 2.95% the week before. The average for 15-year loans remained at 2.27% and the average for five-year ARMs rose to 2.64%. A year ago, 30-year fixed rates averaged 3.18%, almost .20% higher than today. Attributed to Sam Khater, Chief Economist, Freddie Mac - "Home prices continue to accelerate while inventory remains low and new home construction cannot happen fast enough. There are many potential homebuyers who would like to take advantage of low mortgage rates, but competition is strong. For homeowners however, continued low rates make refinancing an option worth considering.”
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 June 4, 2021
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Daily Value
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Monthly Value
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June 3
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April
|
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6-month Treasury Security
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0.04%
|
0.04%
|
|
1-year Treasury Security
|
0.04%
|
0.06%
|
|
3-year Treasury Security
|
0.34%
|
0.35%
|
|
5-year Treasury Security
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0.84%
|
0.86%
|
|
10-year Treasury Security
|
1.63%
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1.64%
|
|
12-month LIBOR
|
|
0.283% (April)
|
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12-month MTA
|
|
0.118% (April)
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|
11th District Cost of Funds
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|
0.377% (March)
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Prime Rate
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|
3.25% (3/20)
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