Weekly Interest Rate Overview

The Markets. Last week rates on home loans were stable during another quiet week of economic reports. The data releases will heat up this week and next. Freddie Mac announced that for the week ending April 23, 30-year fixed rates decreased slightly to 3.65% from 3.67% the week before. The average for 15-year loans was also down two ticks to 2.92%. Adjustables were also down, with the average for one-year adjustables down to 2.44% and five-year adjustables decreasing to 2.84%. A year ago, 30-year fixed rates were at 4.33%, which continues to be more than 0.50% higher than today’s levels. Attributed to Len Kiefer, deputy chief economist, Freddie Mac — “Rates on home loans fell slightly to 3.65 percent this week, positive news for potential homebuyers in the market this spring. Purchase applications in 60 of the 100 markets that MiMi tracks are up from the same time last year, including 20 markets that are showing double-digit increases. Reinforcing this positive momentum, existing home sales surged 6.1 percent to a seasonally adjusted annual rate of 5.19 million units in March, the highest annual rate since September 2013. Housing inventory rose 5.3 percent to 2 million homes for sale, but unsold inventory was little changed at a 4.6 month supply.”  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
	April 23	March
6-month Treasury Security	0.09%	0.11%
1-year Treasury Security	0.24%	0.25%
3-year Treasury Security	0.87%	1.02%
5-year Treasury Security	1.37%	1.52%
10-year Treasury Security	1.96%	2.04%
12-month LIBOR		0.700% (Mar)
12-month MTA		0.146% (Mar)
11th District Cost of Funds		0.700% (Feb)
Prime Rate		3.25%