Mortgage Rates Rose Last Week

January 4, 2022
Mortgage-Rates-Rose-Last-Week-
For the week ending December 30, 30-year rates moved up to 3.11% from 3.05% the week before.

 

In addition, 15-year loans rose to 2.33% and the average for five-year ARMs increased to 2.41%. 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 have effectively been moving sideways despite the increase in new COVID cases. This is because incoming economic data suggests that the economy remains on firm ground, particularly cyclical industries like manufacturing and housing. Moreover, low interest rates and high asset valuations continue to drive consumer spending. While we do expect rates to rise, the push of the first-time homebuyer demographic that's been propelling the purchase market will continue in 2022 and beyond.”

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 30, 2021

Daily Value

Monthly Value

December 29

November

6-month Treasury Security

0.19%

0.07%

1-year Treasury Security

0.38%

0.18%

3-year Treasury Security

0.99%

0.82%

5-year Treasury Security

1.29%

1.20%

10-year Treasury Security

1.55%

1.56%

12-month LIBOR

0.458% (Nov)

12-month MTA

0.088% (Nov)

SOFR Index

1.042% (Dec)

Prime Rate

3.25% (3/20)