The Markets. Fixed rates on home loans rose in the past week in the aftermath of the strong jobs report. Freddie Mac announced that for the week ending February 12, 30-year fixed rates increased to 3.69% from 3.59% the week before. The average for 15-year loans rose to 2.99%. Adjustables were also higher, with the average for one-year adjustables up slightly to 2.42% and five-year adjustables increasing to 2.97%. A year ago, 30-year fixed rates were at 4.28%, which continues to be more than 0.50% higher than today’s levels. Attributed to Frank Nothaft, vice president and chief economist, Freddie Mac — “Rates on home loans rose this week following strong economic data. The economy added 257,000 new jobs in January after robust increases of 329,000 in December and 423,000 in November. The unemployment rate edged up to 5.7 percent last month from 5.6 percent in December. Average hourly earnings rose 0.5 percent, following a 0.2 percent decline in December.” 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 February 13, 2015
|
Daily Value |
Monthly Value |
|
February 12 |
January |
6-month Treasury Security |
0.07% |
0.08% |
1-year Treasury Security |
0.23% |
0.20% |
3-year Treasury Security |
1.02% |
0.90% |
5-year Treasury Security |
1.50% |
1.37% |
10-year Treasury Security |
1.99% |
1.88% |
12-month LIBOR |
|
0.622% (Jan) |
12-month MTA |
|
0.128% (Jan) |
11th District Cost of Funds |
|
0.692% (Dec) |
Prime Rate |
|
3.25% |
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