The Markets.
Rates moved close to historic lows in the past week. Freddie Mac announced that for the week ending October 1, 30-year fixed rates averaged 4.94%, down from 5.04% the week before. The average for 15-year fixed fell as well to 4.36%. Adjustables followed the same downward trend with the average for one-year adjustables falling to 4.49% and five-year adjustables decreasing to 4.42%. A year ago 30-year fixed rates were at 6.10%. “Long-term rates eased further this week,” said Frank Nothaft, Freddie Mac vice president and chief economist. “Rates for 30-year fixed-rate loans were the lowest since mid-May; 15-year FRMs were at a record low since data were first collected in 1991 and 5-year ARMs also hit an all-time record starting in 2005. Compared to a year ago, consumers could shave almost $134 off their monthly home loan payments on a 30-year fixed-rate for $200,000 by refinancing. Such low rates are spurring demand. Applications surged to a 19-week high over the week ending on October 2nd, according to the Mortgage Bankers Association of America. Moreover, applications for home purchases were at the strongest pace since the beginning of this year.” Rates indicated do not include fees and points and are provided for evidence of trends only. They should not be used for comparison purposes.
| Daily Value | Monthly Value | |
| Oct. 8 | September | |
| 6-month Treasury Security | 0.15% | 0.21% |
| 1-year Treasury Security | 0.35% | 0.40% |
| 3-year Treasury Security | 1.40% | 1.48% |
| 5-year Treasury Security | 2.22% | 2.37% |
| 10-year Treasury Security | 3.27% | 3.40% |
| 12-month LIBOR | 1.271% (Sept) | |
| 12-month MTA | 0.632% (Sept) | |
| 11th District Cost of Funds | 1.412% (Aug) | |
| Prime Rate | 3.25% (Dec) |
Current Indices For Adjustable Rate Mortgages
Updated October 9, 2009
