For the week ending July 15, Freddie Mac announced that 30-year fixed rates decreased to 2.88% from 2.90% the week before.
The average for 15-year loans rose to 2.22% and the average for five-year ARMs fell to 2.47%. A year ago, 30-year fixed rates averaged 2.98%, slightly higher than today. Attributed to Sam Khater, Chief Economist, Freddie Mac - "The summer swoon in mortgage rates continues as the 30-year fixed-rate mortgage fell for the third consecutive week. Since their peak at 3.18% in April, mortgage rates have declined by thirty basis points. While this decline is not large, it provides modest relief to borrowers who are purchasing in a market with strong home appreciation and scant inventory.”
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 16, 2021
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Daily Value
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Monthly Value
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July 15
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June
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6-month Treasury Security
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0.05%
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0.05%
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|
1-year Treasury Security
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0.07%
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0.07%
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3-year Treasury Security
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0.43%
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0.39%
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5-year Treasury Security
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0.78%
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0.84%
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10-year Treasury Security
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1.31%
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1.52%
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12-month LIBOR
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0.244% (June)
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12-month MTA
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0.099% (June)
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11th District Cost of Funds
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0.306% (May)
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Prime Rate
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3.25% (3/20)
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