For the week ending June 15, 30-year rates eased to 6.69% from 6.71% the week before.
There was a muted reaction to the anticipated pause by the Fed, which continued after the Fed’s announcement last week. For the week ending June 15, 30-year rates eased to 6.69% from 6.71% the week before. In addition, 15-year loans increased slightly to 6.10%. A year ago, 30-year fixed rates averaged 5.78%, less than 1.0% lower than today. Attributed to Sam Khater, Chief Economist, Freddie Mac, “Mortgage rates decreased slightly this week in anticipation of the pause in rate hikes by the Federal Reserve. As inflation continues to decelerate, economic growth is slowing and the tightening cycle of monetary policy is reaching its apex, which means mortgage rates are expected to decrease later this year and into next.”
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 June 16, 2023
|
Daily Value
|
Monthly Value
|
|
June 15
|
May
|
|
6-month Treasury Security
|
5.33%
|
5.27%
|
|
1-year Treasury Security
|
5.21%
|
4.91%
|
|
3-year Treasury Security
|
4.23%
|
3.82%
|
|
5-year Treasury Security
|
3.91%
|
3.59%
|
|
10-year Treasury Security
|
3.72%
|
3.57%
|
|
12-month LIBOR
|
|
5.716%
|
|
12-month MTA
|
|
4.214%
|
|
SOFR (30-Day Average)
|
|
5.041%
|
|
Prime Rate
|
|
8.25% (5/23)
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