Rates Rise Slightly

July 26, 2022
Rates Rise Slightly
For the week ending July 21, 30-year rates rose to 5.54% from 5.51% the week before.

 

In addition, 15-year loans increased to 4.75% and the average for five-year ARMs declined to 4.31%. A year ago, 30-year fixed rates averaged 2.78%, more than 2.50% lower than today. Attributed to Sam Khater, Chief Economist, Freddie Mac, “The housing market remains sluggish as mortgage rates inch up for a second consecutive week. Consumer concerns about rising rates, inflation and a potential recession are manifesting in softening demand. As a result of these factors, we expect house price appreciation to moderate noticeably.”  

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 July 22, 2022

Daily Value

Monthly Value

July 21

June

6-month Treasury Security

3.00%

2.17%

1-year Treasury Security

3.11%

2.65%

3-year Treasury Security

3.07%

3.15%

5-year Treasury Security

3.00%

3.19%

10-year Treasury Security

2.91%

3.14%

12-month LIBOR

3.564% (June)

12-month MTA

0.859% (June)

SOFR Index

1.045% (June)

Prime Rate

4.75% (6/22)