The Markets. Rates increased in the past week, but this data was released before the effects of the budget settlement were factored into the equation. Freddie Mac announced that for the week ending October 17th, 30-year fixed rates increased to 4.28% from 4.23% the week before. The average for 15-year loans also rose slightly to 3.33%. Adjustable rates were mixed, with the average for one-year adjustables falling slightly to 2.63% and five-year adjustables increasing slightly to 3.07%. A year ago 30-year fixed rates were at 3.37%. Attributed to Frank Nothaft, vice president and chief economist, Freddie Mac — “Rates edged up leading to the federal budget deadline this week. Recent confidence measures depict some of the effects of the government shutdown and uncertainty of the budget impasse. For instance, consumer sentiment in October fell for the second straight month to the lowest reading since January, according to the University of Michigan. Similarly, October’s homebuilder confidence fell to a four-month low. However, despite these downturns in confidence, applications for home loans rose for the second consecutive week as of October 11th, elevated by increases in applications for refinancing.” 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 18, 2013
| Daily Value | Monthly Value | |
| Oct 17 | September | |
| 6-month Treasury Security | 0.08% | 0.04% |
| 1-year Treasury Security | 0.13% | 0.12% |
| 3-year Treasury Security | 0.61% | 0.78% |
| 5-year Treasury Security | 1.35% | 1.60% |
| 10-year Treasury Security | 2.61% | 2.81% |
| 12-month LIBOR | 0.653% (Sept) | |
| 12-month MTA | 0.144% (Sept) | |
| 11th District Cost of Funds | 0.956% (Aug) | |
| Prime Rate | 3.25% |
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