Weekly Interest Rate Overview

The Markets. Rates on home loans rose slightly in the past week, however, rates moved slightly lower after the announcement by the Fed on Wednesday. Freddie Mac announced that, for the week ending July 28, 30-year fixed rates rose to 3.48% from 3.45% the week before. The average for 15-year loans increased to 2.78% and the average for five-year adjustables was unchanged at 2.78%. A year ago, 30-year fixed rates were at 3.98%, one-half of one percent higher than today’s levels. Attributed to Sean Becketti, Chief Economist, Freddie Mac — “The 10-year Treasury yield remained flat this week in anticipation of the Fed’s July policy meeting. On the other hand, 30-year fixed rates rose another 3 basis points to 3.48 percent. Nonetheless, home sales continue to benefit from the persistently low interest rates with June’s new home sales coming in at an annualized rate of 592,000 homes — its fastest pace since 2008.”  Note: 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 July 29, 2016

	Daily Value	Monthly Value
	July 28	June
6-month Treasury Security	0.39%	0.40%
1-year Treasury Security	0.53%	0.55%
3-year Treasury Security	0.82%	0.86%
5-year Treasury Security	1.09%	1.17%
10-year Treasury Security	1.52%	1.64%
12-month LIBOR		1.337% (June)
12-month MTA		0.489% (June)
11th District Cost of Funds		0.691% (May)
Prime Rate		3.50% (Dec)

 

Weekly Interest Rate Overview

The Markets. Rates rose slightly in the past week, but these numbers were released before the weak jobs report was unveiled. Freddie Mac announced that, for the week ending June 2, 30-year fixed rates rose to 3.66% from 3.64% the week before. The average for 15-year loans increased to 2.92%. The average for five-year adjustables also increased to 2.88%. A year ago, 30-year fixed rates were at 3.87%, approximately one-quarter of one percent higher than today’s levels. Attributed to Sean Becketti, chief economist, Freddie Mac — “Since jumping 11 basis points on May 18th, the 10-year Treasury yield has leveled-off around 1.85 percent. Rates on home loans continue to adjust to this new level with the 30-year fixed rate inching up another 2 basis points this week to 3.66 percent. Recent statements by the Fed appear to have persuaded the market that a rate hike may come sooner than later. However, the market is fickle, and Friday’s employment report has the potential to swing opinion 180 degrees in the other direction.” Note: 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 June 3, 2016

	Daily Value	Monthly Value
	June 2	April
6-month Treasury Security	0.48%	0.37%
1-year Treasury Security	0.68%	0.56%
3-year Treasury Security	1.03%	0.92%
5-year Treasury Security	1.36%	1.26%
10-year Treasury Security	1.81%	1.81%
12-month LIBOR		1.230% (Apr)
12-month MTA		0.438% (Apr)
11th District Cost of Funds		0.690% (Apr)
Prime Rate		3.50% (Dec)

Weekly Interest Rate Overview

The Markets. Rates were stable in the last week, but the data was collected before the bond market reacted to the release of the minutes of the last Fed meeting. Freddie Mac announced that, for the week ending May 19, 30-year fixed rates rose one tick to 3.58% from 3.57% the week before. The average for 15-year loans was unchanged at 2.81%. The average for five-year adjustables increased slightly to 2.80%. A year ago, 30-year fixed rates were at 3.84%, approximately one-quarter of one percent higher than today’s levels. Attributed to Sean Becketti, chief economist, Freddie Mac — “The 10-year Treasury yield saw minimal movement over the past week, despite encouraging news from April’s consumer spending and CPI data. Accordingly, the 30-year fixed rate moved up just 1 basis point from its 2016 low, to 3.58 percent. Although there was minimal change in rates this week, the hawkish tone of Wednesday’s release of the Fed’s minutes had an immediate impact on Treasury yields, and could possibly shake up next week’s survey results.” Note: 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 20, 2016

	Daily Value	Monthly Value
	May 19	April
6-month Treasury Security	0.43%	0.37%
1-year Treasury Security	0.64%	0.56%
3-year Treasury Security	1.06%	0.92%
5-year Treasury Security	1.38%	1.26%
10-year Treasury Security	1.85%	1.81%
12-month LIBOR		1.230% (Apr)
12-month MTA		0.438% (Apr)
11th District Cost of Funds		0.678% (Mar)
Prime Rate		3.50% (Dec)

Weekly Interest Rate Overview

The Markets. Rates on home loans inched higher again in the past week. Freddie Mac announced that, for the week ending March 10, 30-year fixed rates rose slightly to 3.68% from 3.64% the week before. The average for 15-year loans was also slightly higher at 2.96%. The average for five-year adjustables increased to 2.92%. A year ago, 30-year fixed rates were at 3.86%, above today’s levels. Attributed to Sean Becketti, chief economist, Freddie Mac — “The 10-year Treasury yield ended the survey week exactly where it started, however the solid February employment report boosted the yield noticeably on Friday and Monday. Our mortgage rate survey captured the impact of this temporary increase in yield, and the 30-year fixed rate rose 4 basis points to 3.68 percent. This marks the second increase this year. Nonetheless, the 30-year fixed rate remains 33 basis points lower than its end-of-2015 level.”  Note: 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 11, 2016

	Daily Value	Monthly Value
	March 10	February
6-month Treasury Security	0.50%	0.45%
1-year Treasury Security	0.69%	0.53%
3-year Treasury Security	1.11%	0.90
5-year Treasury Security	1.45%	1.22%
10-year Treasury Security	1.93%	1.78%
12-month LIBOR		1.179% (Feb)
12-month MTA		0.377% (Feb)
11th District Cost of Funds		0.664% (Jan)
Prime Rate		3.50% (Dec)

Weekly Interest Rate Overview

The Markets. Rates on home loans were unchanged last week, holding close to 2015 lows. Freddie Mac announced that, for the week ending February 18, 30-year fixed rates remained unchanged at 3.65%. The average for 15-year loans also remained unchanged at 2.95%. The average for five-year adjustables increased slightly to 2.85%. A year ago, 30-year fixed rates were at 3.76%, slightly below today’s levels. Attributed to Sean Becketti, chief economist, Freddie Mac — “After another week of financial market oscillations driven by rumors of potential limits on oil production, the 10-year Treasury yield edged up 5 basis points, and the 30-year fixed rate on home loans remained unchanged at 3.65 percent. Despite this week’s uptick in Treasury yields, the 10-year is still 54 basis points lower than it stood at the end of 2015, while the 30-year fixed rate has dropped only 36 basis points over the same period.” Note: As of January 1, Freddie Mac is no longer providing survey data for 1-year adjustables. 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 19, 2016

	Daily Value	Monthly Value
	Feb 18	January
6-month Treasury Security	0.45%	0.43%
1-year Treasury Security	0.53%	0.54%
3-year Treasury Security	0.88%	1.14%
5-year Treasury Security	1.21%	1.52%
10-year Treasury Security	1.75%	2.09%
12-month LIBOR		1.153% (Jan)
12-month MTA		0.350% (Jan)
11th District Cost of Funds		0.655% (Dec)
Prime Rate		3.50% (Dec)

Weekly Interest Rate Overview

The Markets. Rates on home loans have now fallen close to 2015 lows. Freddie Mac announced that, for the week ending February 11, 30-year fixed rates fell to 3.65% from 3.72% the week before. The average for 15-year loans decreased to 2.95%. The average for five-year adjustables also decreased to 2.83%. A year ago, 30-year fixed rates were at 3.69%, virtually the same as today’s levels. Attributed to Sean Becketti, chief economist, Freddie Mac — “The 30-year fixed rate dropped another 7 basis points this week to 3.65 percent. This week’s drop leaves the rate just 6 basis points above last year’s low of 3.59 percent. In a falling rate environment, rates on home loans often adjust more slowly than capital market rates, and the early-2016 flight-to-quality has run true to form. The 30-year fixed rate has dropped 36 basis points since the start of the year, while the yield on the 10-year Treasury has dropped 59 basis points over the same period. If Treasury yields were to hold at current levels, rates on home loans might well sink a little further before stabilizing.” Note: As of January 1, Freddie Mac is no longer providing survey data for 1-year adjustables. 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 12, 2016

	Daily Value	Monthly Value
	Feb 11	January
6-month Treasury Security	0.39%	0.43%
1-year Treasury Security	0.47%	0.54%
3-year Treasury Security	0.81%	1.14%
5-year Treasury Security	1.11%	1.52%
10-year Treasury Security	1.63%	2.09%
12-month LIBOR		1.153% (Jan)
12-month MTA		0.350% (Jan)
11th District Cost of Funds		0.655% (Dec)
Prime Rate		3.50% (Dec)

Weekly Interest Rate Overview

The Markets. Rates on home loans continued to fall this past week; however, this data was released before the jobs report on Friday. Freddie Mac announced that, for the week ending February 4, 30-year fixed rates fell to 3.72% from 3.79% the week before. The average for 15-year loans decreased to 3.01%. The average for five-year adjustables also decreased to 2.85%. A year ago, 30-year fixed rates were at 3.59%, slightly lower than today’s levels. “Market volatility — and the associated flight to quality — continued unabated this week. The yield on the 10-year Treasury dropped another 15 basis points, and the 30-year rate fell 7 basis points as well, to 3.72 percent. Both the Treasury yield and rates on home loans now are in the neighborhood of early-2015 lows. These declines are not what the market anticipated when the Fed raised the Federal funds rate in December. For now, though, sub-4-percent rates are providing a longer-than-expected opportunity for homeowners to refinance.” Note: As of January 1, Freddie Mac is no longer providing survey data for 1-year adjustables. 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 5, 2016

	Daily Value	Monthly Value
	Feb 4	January
6-month Treasury Security	0.43%	0.43%
1-year Treasury Security	0.52%	0.54%
3-year Treasury Security	0.90%	1.14%
5-year Treasury Security	1.25%	1.52%
10-year Treasury Security	1.87%	2.09%
12-month LIBOR		1.153% (Jan)
12-month MTA		0.350% (Jan)
11th District Cost of Funds		0.655% (Dec)
Prime Rate		3.50% (Dec)

Weekly Interest Rate Overview

The Markets. Rates on home loans fell again this past week. Freddie Mac announced that, for the week ending January 28, 30-year fixed rates fell to 3.79% from 3.81% the week before. The average for 15-year loans decreased to 3.07%. The average for five-year adjustables also decreased to 2.90%. A year ago, 30-year fixed rates were at 3.66%, slightly lower than today’s levels. “The yield on the 10-year Treasury stabilized around 2 percent this week, and the 30-year fixed rate dipped 2 basis points to 3.79 percent. The recent market turmoil has given the Fed pause; as was universally expected, the Fed stood pat this week but kept its options open for a rate increase in March. This week’s housing releases confirmed the momentum of home sales going into 2016. A hesitant Fed, sub-4-percent fixed rates for at least for a little while longer, and strong housing fundamentals should generate a three percent increase in home sales this year.” Note: As of January 1, Freddie Mac is no longer providing survey data for 1-year adjustables. 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 January 29, 2016

	Daily Value	Monthly Value
	Jan 28	December
6-month Treasury Security	0.45%	0.50%
1-year Treasury Security	0.47%	0.65%
3-year Treasury Security	1.05%	1.28%
5-year Treasury Security	1.40%	1.70%
10-year Treasury Security	2.00%	2.24%
12-month LIBOR		0.981% (Dec)
12-month MTA		0.322% (Dec)
11th District Cost of Funds		0.644% (Nov)
Prime Rate		3.50% (Dec)

Weekly Interest Rate Overview

The Markets. Rates on home loans fell sharply this past week to their lowest levels in three months. Freddie Mac announced that, for the week ending January 21, 30-year fixed rates fell to 3.81% from 3.92% the week before. The average for 15-year loans decreased to 3.10%. The average for five-year adjustables also decreased to 2.91%. A year ago, 30-year fixed rates were at 3.63%, lower than today’s levels. “The Freddie Mac rate survey had difficulty keeping up with market events this week. The 30-year rate dropped 11 basis points to 3.81 percent, the lowest in three months. This drop reflected weak inflation — 0.7 percent CPI inflation for all of 2015 — and nonstop financial market turbulence that is driving investors to the safe haven of Treasuries. However, the survey was largely complete prior to Wednesday’s Treasury rally that drove the yield on the 10-year Treasury below 2 percent, down 29 basis points since the end of 2015.” Note: As of January 1, Freddie Mac is no longer providing survey data for 1-year adjustables. 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 January 22, 2016

	Daily Value	Monthly Value
	Jan 20	December
6-month Treasury Security	0.35%	0.50%
1-year Treasury Security	0.43%	0.65%
3-year Treasury Security	1.06%	1.28%
5-year Treasury Security	1.44%	1.70%
10-year Treasury Security	2.01%	2.24%
12-month LIBOR		0.981% (Dec)
12-month MTA		0.322% (Dec)
11th District Cost of Funds		0.644% (Nov)
Prime Rate		3.50% (Dec)

Weekly Interest Rate Overview

The Markets. Rates on home loans fell this past week. Freddie Mac announced that, for the week ending January 14, 30-year fixed rates fell to 3.92% from 3.97% the week before. The average for 15-year loans decreased to 3.19%. The average for five-year adjustables also decreased to 3.01%. A year ago, 30-year fixed rates were at 3.66%, lower than today’s levels. “Long-term Treasury yields continue to drop, dragging rates on home loans down with them. Turbulence in overseas financial markets is generating a flight-to-quality which benefits U.S. Treasury securities. In addition, sagging oil prices are capping inflation expectations. The net effect on the 30-year fixed rate was a 5 basis point drop to 3.92 percent.” Note: As of January 1, Freddie Mac is no longer providing survey data for 1-year adjustables. 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 January 15, 2016

	Daily Value	Monthly Value
	Jan 14	December
6-month Treasury Security	0.43%	0.50%
1-year Treasury Security	0.55%	0.65%
3-year Treasury Security	1.14%	1.28%
5-year Treasury Security	1.52%	1.70%
10-year Treasury Security	2.10%	2.24%
12-month LIBOR		0.981% (Dec)
12-month MTA		0.322% (Dec)
11th District Cost of Funds		0.644% (Nov)
Prime Rate		3.50% (Dec)