For the week ending October 7, 30-year rates fell to 2.99% from 3.01% the week before.
In addition, 15-year loans decreased to 2.23% and the average for five-year ARMs rose to 2.52%. A year ago, 30-year fixed rates averaged 2.87%, approximately .125% lower than today. Attributed to Sam Khater, Chief Economist, Freddie Mac - "Mortgage rates continue to hover at around three percent again this week due to rising economic and financial market uncertainties. Unfortunately, with the expectation that both mortgage rates and home prices will continue to rise, competition remains high and housing affordability is declining.”
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 October 8, 2021
|
Daily Value
|
Monthly Value
|
|
October 7
|
September
|
|
6-month Treasury Security
|
0.06%
|
0.05%
|
|
1-year Treasury Security
|
0.10%
|
0.08%
|
|
3-year Treasury Security
|
0.57%
|
0.47%
|
|
5-year Treasury Security
|
1.02%
|
0.86%
|
|
10-year Treasury Security
|
1.58%
|
1.37%
|
|
12-month LIBOR
|
|
0.235% (Sept)
|
|
12-month MTA
|
|
0.084% (Sept)
|
|
11th District Cost of Funds
|
|
0.238% (Aug)
|
|
Prime Rate
|
|
3.25% (3/20)
|