Rates Fall Again

August 9, 2022
Rates-Fall-Again
For the week ending August 4, 30-year rates fell to 4.99% from 5.50% the week before.

 

In addition, 15-year loans decreased to 4.26% and the average for five-year ARMs declined to 4.25%. A year ago, 30-year fixed rates averaged 2.77%, more than 2.00% lower than today. Attributed to Sam Khater, Chief Economist, Freddie Mac, “Mortgage rates remained volatile due to the tug of war between inflationary pressures and a clear slowdown in economic growth. The high uncertainty surrounding inflation and other factors will likely cause rates to remain variable, especially as the Federal Reserve attempts to navigate the current economic environment.” 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 August 5, 2022

Daily Value

Monthly Value

August 4

July

6-month Treasury Security

2.98%

2.87%

1-year Treasury Security

3.11%

3.02%

3-year Treasury Security

2.95%

3.03%

5-year Treasury Security

2.76%

2.96%

10-year Treasury Security

2.68%

2.90%

12-month LIBOR

3.742% (July)

12-month MTA

1.104% (July)

SOFR

1.046% (July)

Prime Rate

5.50% (7/22)