The Markets. Fixed rates on home loans were again stable but slightly lower in the past week. Freddie Mac announced that for the week ending November 20, 30-year fixed rates fell to 3.99% from 4.01% the week before. The average for 15-year loans decreased to 3.17%. Adjustables were mixed but also stable, with the average for one-year adjustables increasing one tick to 2.44% and five-year adjustables decreasing one tick to 3.01%. A year ago, 30-year fixed rates were at 4.22%, which continues to be higher than today’s levels. Attributed to Frank Nothaft, vice president and chief economist, Freddie Mac — “Fixed rates on home loans were slightly down as housing starts declined 2.8 percent in October, below the upwardly revised September rate. However, building permits increased 4.8 percent in October after a 2.8 percent boost a month earlier. Lastly, industrial production slipped by 0.1 percent in October, below 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 November 21, 2014
Daily Value | Monthly Value | |
Nov 20 | October | |
6-month Treasury Security | 0.07% | 0.05% |
1-year Treasury Security | 0.14% | 0.10% |
3-year Treasury Security | 0.97% | 0.88% |
5-year Treasury Security | 1.64% | 1.55% |
10-year Treasury Security | 2.34% | 2.30% |
12-month LIBOR | 0.552% (Oct) | |
12-month MTA | 0.113% (Oct) | |
11th District Cost of Funds | 0.663% (Sept) | |
Prime Rate | 3.25% |