Mortgage rates rose slightly this past week, and the day-to-day fluctuations intensified.
For the week ending December 16, 30-year rates moved up to 3.12% from 3.10% the week before. In addition, 15-year loans fell 2.34% and the average for five-year ARMs remained at 2.45%. A year ago, 30-year fixed rates averaged 2.67%, more than .33% lower than today. Attributed to Sam Khater, Chief Economist, Freddie Mac, “Mortgage rates inched up as a result of economic improvement and a shift in monetary policy guidance. While house price growth is slowing, prices remain high due to solid housing demand and low supply. We expect rates to continue to increase into 2022 which may leave some potential homebuyers with less room in their budgets on the sideline.” 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.
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 December 17, 2021
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Daily Value
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Monthly Value
|
|
December16
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November
|
|
6-month Treasury Security
|
0.13%
|
0.07%
|
|
1-year Treasury Security
|
0.26%
|
0.18%
|
|
3-year Treasury Security
|
0.92%
|
0.82%
|
|
5-year Treasury Security
|
1.19%
|
1.20%
|
|
10-year Treasury Security
|
1.44%
|
1.56%
|
|
12-month LIBOR
|
|
0.458% (Nov)
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12-month MTA
|
|
0.088% (Nov)
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|
11th District Cost of Funds
|
|
0.225% (Oct)
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|
Prime Rate
|
|
3.25% (3/20)
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