For the week ending July 22, Freddie Mac announced that 30-year fixed rates decreased to 2.78% from 2.88% the week before.
The average for 15-year loans fell to 2.12% and the average for five-year ARMs rose slightly to 2.49%. A year ago, 30-year fixed rates averaged 3.01%, .23% higher than today. Attributed to Sam Khater, Chief Economist, Freddie Mac - " Concerns about the Delta variant, and the overall trajectory of the pandemic, are undoubtedly affecting economic growth. While the economy continues to mend, Treasury yields have decreased, and mortgage rates have followed suit. Unfortunately, many homebuyers are unable to take advantage of low rates due to low inventory and high prices.”
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 23, 2021
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Daily Value
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Monthly Value
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July 22
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June
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6-month Treasury Security
|
0.05%
|
0.05%
|
|
1-year Treasury Security
|
0.07%
|
0.07%
|
|
3-year Treasury Security
|
0.37%
|
0.39%
|
|
5-year Treasury Security
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0.71%
|
0.84%
|
|
10-year Treasury Security
|
1.27%
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1.52%
|
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12-month LIBOR
|
|
0.244% (June)
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12-month MTA
|
|
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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