For the week ending August 25, 30-year rates rose to 5.55% from 5.13% the week before.
Mortgage rates rose sharply in the past week and continued to rise after the survey was released. For the week ending August 25, 30-year rates rose to 5.55% from 5.13% the week before. In addition, 15-year loans climbed to 4.85% and the average for five-year ARMs decreased to 4.36%. A year ago, 30-year fixed rates averaged 2.878%, more than 2.50% lower than today. Attributed to Sam Khater, Chief Economist, Freddie Mac, “The combination of higher mortgage rates and the slowdown in economic growth is weighing on the housing market. Home sales continue to decline, prices are moderating, and consumer confidence is low. But, amid waning demand, there are still potential homebuyers on the sidelines waiting to jump back into the market.”
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 26, 2022
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Daily Value
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Monthly Value
|
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August 25
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July
|
|
6-month Treasury Security
|
3.25%
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2.87%
|
|
1-year Treasury Security
|
3.33%
|
3.02%
|
|
3-year Treasury Security
|
3.37%
|
3.03%
|
|
5-year Treasury Security
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3.15%
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2.96%
|
|
10-year Treasury Security
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3.03%
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2.90%
|
|
12-month LIBOR
|
|
3.742% (July)
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|
12-month MTA
|
|
1.104% (July)
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|
SOFR
|
|
1.046% (July)
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|
Prime Rate
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5.50% (7/22)
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