Rates eased in the past week.
For the week ending July 1, Freddie Mac announced that 30-year fixed rates decreased to 2.98% from 3.02% the week before. The average for 15-year loans fell to 2.26% and the average for five-year ARMs moved up one tick to 2.54%. A year ago, 30-year fixed rates averaged 3.07%, slightly higher than today. Attributed to Sam Khater, Chief Economist, Freddie Mac - "Economic growth remains steady and is bolstering more segments of the economy. Although low and stable mortgage rates have kept the housing market booming over recent months, a deterioration in affordability and for-sale inventory has led to a market slowdown.”
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 July 2, 2021
with
|
Daily Value
|
Monthly Value
|
|
July 1
|
May
|
|
6-month Treasury Security
|
0.06%
|
0.04%
|
|
1-year Treasury Security
|
0.07%
|
0.05%
|
|
3-year Treasury Security
|
0.46%
|
0.32%
|
|
5-year Treasury Security
|
0.87%
|
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)
|