For the week ending December 23, 30-year rates moved down to 3.05% from 3.12% the week before.
15-year loans also fell to 2.30% and the average for five-year ARMs decreased to 2.37%. A year ago, 30-year fixed rates averaged 2.66%, more than .33% lower than today. Attributed to Sam Khater, Chief Economist, Freddie Mac, “The market volatility resulting from the COVID-19 Omicron variant is causing mortgage rates to decrease. As the year comes to a close, the housing market is proceeding steadily. However, rates are expected to increase in 2022 which will impact homebuyer demand as well as refinance activity.”
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 23, 2021
|
Daily Value
|
Monthly Value
|
|
December 22
|
November
|
|
6-month Treasury Security
|
0.16%
|
0.07%
|
|
1-year Treasury Security
|
0.28%
|
0.18%
|
|
3-year Treasury Security
|
0.96%
|
0.82%
|
|
5-year Treasury Security
|
1.23%
|
1.20%
|
|
10-year Treasury Security
|
1.46%
|
1.56%
|
|
12-month LIBOR
|
|
0.458% (Nov)
|
|
12-month MTA
|
|
0.088% (Nov)
|
|
11th District Cost of Funds
|
|
0.225% (Oct)
|
|
Prime Rate
|
|
3.25% (3/20)
|