For the week ending November 11, 30-year rates fell to 2.98%% from 3.09% the week before.
In addition, 15-year loans decreased to 2.27% and the average for five-year ARMs eased to 2.53%. A year ago, 30-year fixed rates averaged 2.84%, less than .25% lower than today. Attributed to Sam Khater, Chief Economist, Freddie Mac - "Despite the re-acceleration of economic growth, the recent bond rally drove mortgage rates down for the second consecutive week. These low mortgage rates, combined with the tailwind of first-time homebuyers entering the market, means that purchase demand will remain strong into next year. However, affordability pressures continue to be an ongoing concern for homebuyers.”
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 November 12, 2021
|
Daily Value
|
Monthly Value
|
|
November 10
|
October
|
|
6-month Treasury Security
|
0.07%
|
0.06%
|
|
1-year Treasury Security
|
0.17%
|
0.11%
|
|
3-year Treasury Security
|
0.83%
|
0.67%
|
|
5-year Treasury Security
|
1.23%
|
1.11%
|
|
10-year Treasury Security
|
1.56%
|
1.58%
|
|
12-month LIBOR
|
|
0.361% (Oct)
|
|
12-month MTA
|
|
0.083% (Oct)
|
|
11th District Cost of Funds
|
|
0.225% (Sept)
|
|
Prime Rate
|
|
3.25% (3/20)
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