Rate Stability Carries On

September 14, 2021
Rate-Stability-Carries-On
For the week ending September 9, Freddie Mac announced that 30-year fixed rates rose one tick to 2.88%.

 

The average for 15-year loans also rose one tick to 2.19% and the average for five-year ARMs decreased slightly to 2.42%. A year ago, 30-year fixed rates averaged 2.86%, slightly lower than today. Attributed to Sam Khater, Chief Economist, Freddie Mac - "While the economy continues to grow, it has lost momentum over the last two months due to the current wave of new COVID cases that has led to weaker employment, lower spending and declining consumer confidence. Consequently, mortgage rates dropped early this summer and have stayed steady despite increases in inflation caused by supply and demand imbalances. The net result for housing is that these low and stable rates allow consumers more time to find the homes they are looking to purchase.”

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 September 10, 2021

Daily Value

Monthly Value

Sept 9

August

6-month Treasury Security

0.05%

0.06%

1-year Treasury Security

0.07%

0.07%

3-year Treasury Security

0.43%

0.42%

5-year Treasury Security

0.79%

0.77%

10-year Treasury Security

1.30%

1.28%

12-month LIBOR

0.228% (Aug)

12-month MTA

0.088% (Aug)

11th District Cost of Funds

0.263% (July)

Prime Rate

3.25% (3/20)