Rates were down slightly in the past week.
For the week ending June 10, Freddie Mac announced that 30-year fixed rates decreased to 2.96% from 2.99% the week before. The average for 15-year loans fell to 2.23% and the average for five-year ARMs also dropped to 2.55%. A year ago, 30-year fixed rates averaged 3.21%, almost .20% higher than today. Attributed to Sam Khater, Chief Economist, Freddie Mac - "The economy is recovering remarkably fast and as pandemic restrictions continue to lift, economic growth will remain strong over the coming months. Despite the stronger economy, the housing market is experiencing a slowdown in purchase application activity. However, it has yet to translate into a weaker home price trajectory because the shortage of inventory continues to cause pricing to remain elevated.”
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 11, 2021
with
|
Daily Value
|
Monthly Value
|
|
June 10
|
May
|
|
6-month Treasury Security
|
0.04%
|
0.04%
|
|
1-year Treasury Security
|
0.05%
|
0.05%
|
|
3-year Treasury Security
|
0.30%
|
0.32%
|
|
5-year Treasury Security
|
0.73%
|
0.82%
|
|
10-year Treasury Security
|
1.45%
|
1.62%
|
|
12-month LIBOR
|
|
0.247% (May)
|
|
12-month MTA
|
|
0.108% (May)
|
|
11th District Cost of Funds
|
|
0.343% (April)
|
|
Prime Rate
|
|
3.25% (3/20)
|