For the week ending February 2, 30-year rates fell to 6.09% from 6.13% the week before.
Rates decreased again last week, with rates easing even more after the survey was released. But they turned very volatile after the jobs report was issued. For the week ending February 2, 30-year rates fell to 6.09% from 6.13% the week before. In addition, 15-year loans decreased to 5.14%. A year ago, 30-year fixed rates averaged 3.55%, more than 2.5% lower than today. Attributed to Sam Khater, Chief Economist, Freddie Mac, “Mortgage rates inched down again, with the 30-year fixed-rate down nearly a full point from November, when it peaked at just over seven percent. According to Freddie Mac research, this one percentage point reduction in rates can allow as many as three million more mortgage-ready consumers to qualify and afford a $400,000 loan, which is the median home price.”
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. Also moving to showing the 30-Day Average of SOFR beginning January 2023.
Current Indices for Adjustable Rates
Updated February 3, 2023
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Daily Value
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Monthly Value
|
|
February 2
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January
|
|
6-month Treasury Security
|
4.76%
|
4.80%
|
|
1-year Treasury Security
|
4.64%
|
4.69%
|
|
3-year Treasury Security
|
3.75%
|
3.91%
|
|
5-year Treasury Security
|
3.49%
|
3.64%
|
|
10-year Treasury Security
|
3.40%
|
3.53%
|
|
12-month LIBOR
|
|
5.315%
|
|
12-month MTA
|
|
3.138%
|
|
SOFR
|
|
4.310%
|
|
Prime Rate
|
|
7.75% (2/23)
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