For the week ending May 4, 30-year rates fell to 6.39% from 6.43% the week before.
Rates eased again in the past week. For the week ending May 4, 30-year rates fell to 6.39% from 6.43% the week before. In addition, 15-year loans increased to 5.76%. A year ago, 30-year fixed rates averaged 5.27%, slightly more than 1.0% lower than today. Attributed to Sam Khater, Chief Economist, Freddie Mac, “This week, mortgage rates inched down slightly amid recent volatility in the banking sector and commentary from the Federal Reserve on its policy outlook. Spring is typically the busiest season for the residential housing market and, despite rates hovering in the mid-six percent range, this year is no different. Interested homebuyers are acclimating to the current rate environment, but the lack of inventory remains a primary obstacle to affordability.”
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 May 5, 2023
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Daily Value
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Monthly Value
|
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May 4
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April
|
|
6-month Treasury Security
|
5.04%
|
4.99%
|
|
1-year Treasury Security
|
4.59%
|
4.68%
|
|
3-year Treasury Security
|
3.47%
|
3.76%
|
|
5-year Treasury Security
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3.29%
|
3.54%
|
|
10-year Treasury Security
|
3.37%
|
3.46%
|
|
12-month LIBOR
|
|
5.366%
|
|
12-month MTA
|
|
3.977%
|
|
SOFR (30-Day Average)
|
|
4.819%
|
|
Prime Rate
|
|
8.25% (5/23)
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