The Markets. Rates moved to their lowest levels of the past seven months in the past week. Freddie Mac announced that for the week ending May 22, 30-year fixed rates decreased to 4.14% from 4.20% the week before. The average for 15-year loans fell to 3.25%. Adjustables were mixed but stable in the past week with the average for one-year adjustables remaining at 2.43% and five-year adjustables falling to 2.96%. A year ago 30-year fixed rates were at 3.59%. Attributed to Frank Nothaft, vice president and chief economist, Freddie Mac — “Rates on home loans continued to decline this week as industrial production slipped by 0.6 percent in April, below the market consensus forecast. Meanwhile, housing starts jumped 13 percent in April to a seasonally adjusted annual rate of 1,072,000 units, well above expectations. Permits rose to a seasonally adjusted annual rate of 1,080,000 in April, also above expectations.” 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 May 23, 2014
| Daily Value | Monthly Value | |
| May 22 | April | |
| 6-month Treasury Security | 0.05% | 0.05% |
| 1-year Treasury Security | 0.09% | 0.11% |
| 3-year Treasury Security | 0.80% | 0.88% |
| 5-year Treasury Security | 1.57% | 1.70% |
| 10-year Treasury Security | 2.56% | 2.71% |
| 12-month LIBOR | 0.550% (Apr) | |
| 12-month MTA | 0.123% (Apr) | |
| 11th District Cost of Funds | 0.701% (Mar) | |
| Prime Rate | 3.25% |
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