The Markets. Fixed rates on home loans fell to their lowest levels of the year in the past week. Freddie Mac announced that for the week ending December 18, 30-year fixed rates fell to 3.80% from 3.93% the week before. The average for 15-year loans decreased to 3.09%. Adjustables were also lower, with the average for one-year adjustables decreasing to 2.38% and five-year adjustables falling to 2.95%. A year ago, 30-year fixed rates were at 4.47%, which is over 0.5% higher than today’s levels. Attributed to Frank Nothaft, vice president and chief economist, Freddie Mac — “The 30-year fixed rates on home loans dropped to its lowest point of 2014 this week. Rates fell along with 10-year Treasury yields, which closed at their lowest level since May 2013. November housing starts came in at a seasonally adjusted annual rate of 1.028 million starts, down 1.6 percent from an upwardly-revised October value. Housing starts for the calendar year will likely come in around 1.0 million, above the 2013 pace, but lower than forecasters had expected at the start of 2014. Consumer prices declined more than expected in November, with the Consumer Price Index contracting 0.3 percent.” 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 December 19, 2014
Daily Value | Monthly Value | |
Dec 18 | November | |
6-month Treasury Security | 0.12% | 0.07% |
1-year Treasury Security | 0.25% | 0.13% |
3-year Treasury Security | 1.10% | 0.96% |
5-year Treasury Security | 1.68% | 1.62% |
10-year Treasury Security | 2.22% | 2.33% |
12-month LIBOR | 0.562% (Nov) | |
12-month MTA | 0.114% (Nov) | |
11th District Cost of Funds | 0.671% (Oct) | |
Prime Rate | 3.25% |