For the week ending May 19, 30-year rates fell to 5.25% from 5.30% the week before.
In addition, 15-year loans decreased to 4.43% and the average for five-year ARMs climbed to 4.08%. A year ago, 30-year fixed rates averaged 3.00%, over 2.00% lower than today. Attributed to Sam Khater, Chief Economist, Freddie Mac, “Economic uncertainty is causing mortgage rate volatility. As a result, purchase demand is waning, and homebuilder sentiment has dropped to the lowest level in nearly two years. Builders are also dealing with rising costs, meaning this posture is likely to continue.”
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 20, 2022
|
Daily Value
|
Monthly Value
|
|
May 19
|
April
|
|
6-month Treasury Security
|
1.52%
|
1.26%
|
|
1-year Treasury Security
|
2.11%
|
1.89%
|
|
3-year Treasury Security
|
2.78%
|
2.72%
|
|
5-year Treasury Security
|
2.84%
|
2.78%
|
|
10-year Treasury Security
|
2.84%
|
2.75%
|
|
12-month LIBOR
|
1.52%
|
2.549% (April)
|
|
12-month MTA
|
|
0.477% (April)
|
|
SOFR Index
|
|
1.043% (April)
|
|
Prime Rate
|
|
4.00% (5/22)
|