For the week ending June 2, 30-year rates fell one tick to 5.09% from 5.10% the week before.
In addition, 15-year loans increased one tick to 4.32% and the average for five-year ARMs fell to 4.04%. A year ago, 30-year fixed rates averaged 2.99%, over 2.00% lower than today. Attributed to Sam Khater, Chief Economist, Freddie Mac, “Mortgage rates continued to inch downward this week but are still significantly higher than last year, affecting affordability and purchase demand. Heading into the summer, the potential homebuyer pool has shrunk, supply is on the rise and the housing market is normalizing. This is welcome news following unprecedented market tightness over the last couple years.”
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 June 3, 2022
|
Daily Value
|
Monthly Value
|
|
June 2
|
May
|
|
6-month Treasury Security
|
1.64%
|
1.49%
|
|
1-year Treasury Security
|
2.15%
|
2.06%
|
|
3-year Treasury Security
|
2.83%
|
2.79%
|
|
5-year Treasury Security
|
2.92%
|
2.87%
|
|
10-year Treasury Security
|
2.92%
|
2.90%
|
|
12-month LIBOR
|
|
2.775% (May)
|
|
12-month MTA
|
|
0.644% (May)
|
|
SOFR Index
|
|
1.044% (May)
|
|
Prime Rate
|
|
4.00% (5/22)
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