The Markets. Last week, rates bounced back in the aftermath of the release of the employment report. Freddie Mac announced that for the week ending March 13, 30-year fixed rates increased to 4.37% from 4.28% the week before. The average for 15-year loans rose to 3.38%. Adjustable rates were mixed last week with the average for one-year adjustables falling to 2.48% and five-year adjustables rising to 3.09%. A year ago 30-year fixed rates were at 3.63%. Attributed to Frank Nothaft, vice president and chief economist, Freddie Mac –“Rates on home loans edged up amid a week of light economic reports. Of the few releases, the economy added 175,000 jobs in February, which was above the market consensus forecast and followed an upward revision of 25,000 jobs for the prior two months. Meanwhile, the unemployment rate nudged up to 6.7 percent, the first rate increase in over a year.” 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 March 14, 2014
| Daily Value | Monthly Value | |
| March 13 | February | |
| 6-month Treasury Security | 0.08% | 0.08% |
| 1-year Treasury Security | 0.12% | 0.12% |
| 3-year Treasury Security | 0.74% | 0.69% |
| 5-year Treasury Security | 1.53% | 1.52% |
| 10-year Treasury Security | 2.66% | 2.71% |
| 12-month LIBOR | 0.555% (Feb) | |
| 12-month MTA | 0.126% (Feb) | |
| 11th District Cost of Funds | 0.768% (Jan) | |
| Prime Rate | 3.25% |
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