For the week ending February 10, 30-year rates rose to 3.69% from 3.55%.
In addition, 15-year loans increased to 2.93% and the average for five-year ARMs also increased to 2.80%. A year ago, 30-year fixed rates averaged 2.69%, almost 1.00% lower than today. Attributed to Sam Khater, Chief Economist, Freddie Mac, “The normalization of the economy continues as mortgage rates jumped to the highest level since the emergence of the pandemic. Rate increases are expected to continue due to a strong labor market and high inflation, which likely will have an adverse impact on homebuyer demand.”
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 February 11, 2022
|
Daily Value
|
Monthly Value
|
|
February 10
|
January
|
|
6-month Treasury Security
|
0.74%
|
0.33%
|
|
1-year Treasury Security
|
1.14%
|
0.55%
|
|
3-year Treasury Security
|
1.82%
|
1.25%
|
|
5-year Treasury Security
|
1.96%
|
1.54%
|
|
10-year Treasury Security
|
2.03%
|
1.76%
|
|
12-month LIBOR
|
|
0.962% (Jan)
|
|
12-month MTA
|
|
0.142% (Jan)
|
|
SOFR Index
|
|
1.042% (Jan)
|
|
Prime Rate
|
|
3.25% (3/20)
|