For the week ending May 5, 30-year rates rose to 5.27% from 5.10% the week before.
In addition, 15-year loans increased to 4.52% and the average for five-year ARMs also climbed to 3.96%. A year ago, 30-year fixed rates averaged 2.96%, over 2.00% lower than today. Attributed to Sam Khater, Chief Economist, Freddie Mac, “Mortgage rates resumed their climb this week as the 30-year fixed reached its highest point since 2009. While housing affordability and inflationary pressures pose challenges for potential buyers, house price growth will continue but is expected to decelerate in the coming months.”
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 May 6, 2022
|
Daily Value
|
Monthly Value
|
|
May 5
|
April
|
|
6-month Treasury Security
|
1.37%
|
1.26%
|
|
1-year Treasury Security
|
2.08%
|
1.89%
|
|
3-year Treasury Security
|
2.91%
|
2.72%
|
|
5-year Treasury Security
|
3.01%
|
2.78%
|
|
10-year Treasury Security
|
3.05%
|
2.75%
|
|
12-month LIBOR
|
|
2.549% (April)
|
|
12-month MTA
|
|
0.477% (April)
|
|
SOFR Index
|
|
1.043% (April)
|
|
Prime Rate
|
|
4.00% (5/22)
|