The Markets. Rates held to low levels in the past week. Freddie Mac announced that for the week ending September 24, 30-year fixed rates averaged 5.04%, the same as the week before. The average for 15-year fixed fell slightly to 4.46%. Adjustables were mixed with the average for one-year adjustables falling to 4.52% and five-year adjustables remaining at 4.51%. A year ago 30-year fixed rates were at 6.09%. "Rates held relatively steady at three-month lows this week,” said Frank Nothaft, Freddie Mac vice president and chief economist. "In its September 23rd policy statement, the Federal Reserve (Fed) indicated that it plans to keep its benchmark rate exceptionally low for an extended period. This will likely benefit consumers who opt for ARMs, because they are typically tied to shorter-term rates. The Fed also noted that activity in the economy and housing market has picked up and financial markets have improved.” 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 25, 2009
|
Daily Value |
Monthly Value |
|
Sept. 24 |
August |
6-month Treasury Security |
0.19% |
0.27% |
1-year Treasury Security |
0.39% |
0.46% |
3-year Treasury Security |
1.45% |
1.65% |
5-year Treasury Security |
2.37% |
2.57% |
10-year Treasury Security |
3.40% |
3.59% |
12-month LIBOR |
|
1.427% (Aug) |
12-month MTA |
|
0.758% (Aug) |
11th District Cost of Funds |
|
1.473% (July) |
Prime Rate |
|
3.25% (Dec) |
Best Regards,
Kurt Galitski
The Kurt Real Estate Group
Weichman Realtors
714-957-6677