The Markets. Rates continued the downward trend last week but these numbers were released before the employment report on Thursday. Freddie Mac announced that for the week ending February 6, 30-year fixed rates decreased to 4.23% from 4.32% the week before. The average for 15-year loans fell to 3.33%. Adjustable rates were also lower with the average for one-year adjustables falling to 2.51% and five-year adjustables slipping to 3.08%. A year ago 30-year fixed rates were at 3.53%. Attributed to Frank Nothaft, vice president and chief economist, Freddie Mac — “Rates on home loans fell further this week following the release of weaker housing data. The pending home sales index fell 8.7 percent in December to its lowest level since October 2011. Fixed residential investment negatively contributed to GDP in the fourth quarter for the first time since the third quarter of 2010. Also, the Institute for Supply Management reported a significant slowing in growth in the manufacturing industry in December than the market consensus forecast.” 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 Rate Mortgages
Updated February 7, 2014
| Daily Value | Monthly Value | |
| Feb 6 | January | |
| 6-month Treasury Security | 0.08% | 0.07% |
| 1-year Treasury Security | 0.13% | 0.12% |
| 3-year Treasury Security | 0.69% | 0.78% |
| 5-year Treasury Security | 1.52% | 1.65% |
| 10-year Treasury Security | 2.73% | 2.86% |
| 12-month LIBOR | 0.575% (Jan) | |
| 12-month MTA | 0.129% (Jan) | |
| 11th District Cost of Funds | 0.784% (Dec) | |
| Prime Rate | 3.25% |
Comments