Rates Ease Again

May 31, 2022
Rates-Ease-Again
For the week ending May 26, 30-year rates fell to 5.10% from 5.25% the week before.

 

Mortgage rates eased again in the past week. For the week ending May 26, 30-year rates fell to 5.10% from 5.25% the week before. In addition, 15-year loans decreased to 4.31% and the average for five-year ARMs climbed to 4.20%. A year ago, 30-year fixed rates averaged 2.95%, over 2.00% lower than today. Attributed to Sam Khater, Chief Economist, Freddie Mac, “Mortgage rates decreased for the second week in a row due to multiple headwinds that the economy is facing. Despite the recent moderation in rates, the housing market has clearly slowed, and the deceleration is spreading to other segments of the economy, such as consumer spending on durable goods.” 

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 27, 2022

Daily Value

Monthly Value

May 26

April

6-month Treasury Security

1.52%

1.26%

1-year Treasury Security

1.99%

1.89%

3-year Treasury Security

2.63%

2.72%

5-year Treasury Security

2.70%

2.78%

10-year Treasury Security

2.75%

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)