April 27th, 2016 | Rates! Rates! Rates!
Rates continued to be stable in the past week, hovering near their lowest levels in almost three years. Freddie Mac announced that, for the week ending April 21, 30-year fixed rates rose one tick to 3.59% from 3.58% the week before.
The average for 15-year loans was slightly lower at 2.85%. The average for five-year adjustables decreased to 2.81%. A year ago, 30-year fixed rates were at 3.65%, close to today's levels.
Attributed to Sean Becketti, chief economist, Freddie Mac -- "Volatility in financial markets subsided over the past week, allowing Treasury yields to stabilize. As a result, the 30-year fixed rate was mostly flat, up only 1 basis point to 3.59 percent. The release of March's existing-home sales report, which shows monthly growth at 5.1 percent, suggests homebuyers are taking advantage of low rates as the spring homebuying season gets underway."
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.
6-month Treasury Security 0.37% 0.47%
1-year Treasury Security 0.56% 0.66%
3-year Treasury Security 0.98% 1.04%
5-year Treasury Security 1.35% 1.38%
10-year Treasury Security 1.88% 1.89%
12-month LIBOR 1.179% (Mar)
12-month MTA 0.410% (Mar)
11th District Cost of Funds 0.670% (Feb)
Prime Rate 3.50% (Dec)