Rates Continue to Climb

January 25, 2022
Rates-Still-Climbing
Despite recent rate increases there is some moderation, which increases hope for stabilization.

 

For the week ending January 20, 30-year rates moved up to 3.56% from 3.45% the week before. In addition, 15-year loans rose to 2.79% and the average for five-year ARMs increased to 2.60%. A year ago, 30-year fixed rates averaged 2.79%, more than .75% lower than today. Attributed to Sam Khater, Chief Economist, Freddie Mac, “Mortgage rates moved up again as the 10-year U.S. Treasury yield rose and financial markets adjusted to anticipated changes in monetary policy that will combat inflation. As a result of higher mortgage rates, purchase demand has modestly waned in advance of the spring homebuying season. However, supply remains near historically tight levels and home prices remain high, keeping the market competitive”

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 January 21, 2022

Daily Value

Monthly Value

January 20

December

6-month Treasury Security

0.36%

0.15%

1-year Treasury Security

0.60%

0.30%

3-year Treasury Security

1.34%

0.95%

5-year Treasury Security

1.62%

1.23%

10-year Treasury Security

1.83%

1.47%

12-month LIBOR

0.583% (Dec)

12-month MTA

0.104% (Dec)

SOFR Index

1.042% (Dec)

Prime Rate

3.25% (3/20)