For the week ending October 6, 30-year rates fell to 6.66% from 6.70% the week before.
Rates stabilized a bit in the past week, albeit at a higher level than last month. For the week ending October 6, 30-year rates fell to 6.66% from 6.70% the week before. In addition, 15-year loans eased to 5.90% and the average for five-year ARMs increased to 5.36%. A year ago, 30-year fixed rates averaged 2.99%, more than 3.50% lower than today. Attributed to Sam Khater, Chief Economist, Freddie Mac, “Mortgage rates decreased slightly this week due to ongoing economic uncertainty. However, rates remain quite high compared to just one year ago, meaning housing continues to be more expensive for potential homebuyers.”
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 October 7, 2022
|
Daily Value
|
Monthly Value
|
|
October 6
|
September
|
|
6-month Treasury Security
|
4.04%
|
3.71%
|
|
1-year Treasury Security
|
4.19%
|
3.89%
|
|
3-year Treasury Security
|
4.24%
|
3.88%
|
|
5-year Treasury Security
|
4.05%
|
3.70%
|
|
10-year Treasury Security
|
3.83%
|
3.52%
|
|
12-month LIBOR
|
|
4.781% (Sept)
|
|
12-month MTA
|
|
1.689% (Sept)
|
|
SOFR
|
|
1.050% (Sept)
|
|
Prime Rate
|
|
6.25% (9/22)
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