The Markets. Rates on home loans were slightly higher in the past week. Freddie Mac announced that for the week ending September 3, 30-year fixed rates rose to 3.89% from 3.84% the week before. The average for 15-year loans increased to 3.09%. Adjustables were mixed, with the average for one-year adjustables unchanged at 2.62% and five-year adjustables rising to 2.93%. A year ago, 30-year fixed rates were at 4.10%, close, but still higher than today’s levels. Attributed to Sean Becketti, chief economist, Freddie Mac — “Fasten your seat belts. It’s going to be a bumpy night,” said Bette Davis in All About Eve. That could just as well have been Janet Yellen, or a specialist at the New York Stock Exchange, or the head of the People’s Bank of China on yet another week with lots of volatility on essentially no new information. The 30-year fixed rate increased, but don’t read too much into that. The Fed took great pains at the Jackson Hole conference to keep all their options open and to avoid making too much — or too little — of the situation in China and the volatility in global equity markets. This Friday’s employment report is the last piece of significant, solid evidence the FOMC will have to consider before their September decision. The Street appears to be calling it a coin flip. There won’t be a clear direction for rates on home loans until the Fed makes its September decision, at the earliest.” 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 September 4, 2015
Updated September 4, 2015
| Daily Value | Monthly Value | |
| Sept 3 | July | |
| 6-month Treasury Security | 0.24% | 0.12% |
| 1-year Treasury Security | 0.36% | 0.30% |
| 3-year Treasury Security | 1.00% | 1.03% |
| 5-year Treasury Security | 1.49% | 1.63% |
| 10-year Treasury Security | 2.18% | 2.32% |
| 12-month LIBOR | 0.828% (July) | |
| 12-month MTA | 0.198% (July) | |
| 11th District Cost of Funds | 0.643% (July) | |
| Prime Rate | 3.25% |
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