The Markets. Rates fell for the third consecutive week in the midst of the government shutdown. Freddie Mac announced that for the week ending October 3, 30-year fixed rates decreased to 4.22% from 4.32% the week before. The average for 15-year loans also fell to 3.29%. Adjustable rates were mixed, with the average for one-year adjustables remaining at 2.63% and five-year adjustables decreasing to 3.03%. A year ago 30-year fixed rates were at 3.36%. Attributed to Frank Nothaft, vice president and chief economist, Freddie Mac — “With the onset of the federal government shutdown and declining consumer confidence, fixed mortgage rates fell for the third consecutive week. Consumer sentiment fell for the second month in a row in September to its lowest reading since April, according to the University of Michigan. Moreover, a recent Bloomberg survey of professional forecasters suggests that a partial federal shutdown lasting one week would shave 0.1 percentage points off of GDP growth in the fourth quarter and even more if the shutdown lasts longer.” 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 October 4, 2013
| Daily Value | Monthly Value | |
| Oct 3 | August | |
| 6-month Treasury Security | 0.05% | 0.07% |
| 1-year Treasury Security | 0.11% | 0.13% |
| 3-year Treasury Security | 0.61% | 0.70% |
| 5-year Treasury Security | 1.36% | 1.52% |
| 10-year Treasury Security | 2.62% | 2.74% |
| 12-month LIBOR | 0.668% (Aug) | |
| 12-month MTA | 0.149% (Aug) | |
| 11th District Cost of Funds | 0.956% (Aug) | |
| Prime Rate | 3.25% |
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