For the week ending August 19, Freddie Mac announced that 30-year fixed rates decreased one tick to 2.86% from 2.87% the week before.
The average for 15-year loans rose one tick to 2.16% and the average for five-year ARMs decreased slightly to 2.43%. A year ago, 30-year fixed rates averaged 2.99%, slightly higher than today. Attributed to Sam Khater, Chief Economist, Freddie Mac - "Mortgage rates stayed relatively flat this week. Housing is in a similar phase of the economic cycle as many other consumer goods. While there is strong latent demand, low supply has caused prices to rise as shortages restrict the amount of sales activity that otherwise would occur.” 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 August 20, 2021
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Daily Value
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Monthly Value
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August 19
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July
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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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0.06%
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0.08%
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3-year Treasury Security
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0.44%
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0.40%
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5-year Treasury Security
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0.78%
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0.76%
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10-year Treasury Security
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1.24%
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1.32%
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12-month LIBOR
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0.235% (July)
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12-month MTA
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0.093% (July)
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11th District Cost of Funds
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0.282% (June)
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Prime Rate
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3.25% (3/20)
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