Market Update
Fixed rates ticked up slightly last week, but remained near their lows for the year. Freddie Mac announced that for the week ending September 11, 30-year fixed rates rose slightly to 4.12% from 4.10% the week before. The average
for 15-year loans also ticked up slightly to 3.26%. Adjustables rose slightly as well, with the average for one-year adjustables moving up to 2.45% and five-year adjustables increasing to 2.99%. A year ago 30-year fixed rates were at 4.57%. Attributed to Frank
Nothaft, vice president and chief economist, Freddie Mac — "Rates on home loans were up slightly this week, following the increase in 10-year Treasury yields, despite last week's disappointing employment report. The U.S. economy added only 142,000 jobs in
August, after a 212,000 gain in July and a 267,000 increase in June. The unemployment rate fell to 6.1 percent in August from 6.2 percent the previous month." 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 12, 2014
Index
Sept 11
August
6-month Treasury Security
0.05%
0.05%
1-year Treasury Security
0.11%
0.11%
3-year Treasury Security
1.07%
0.93%
5-year Treasury Security
1.79%
1.63%
10-year Treasury Security
2.54%
2.42%
12-month LIBOR
0.559% (Aug)
12-month MTA
0.115% (Aug)
11th District Cost of Funds
0.668% (July)
Prime Rate
3.250%
Gerald Santoro
Mortgage Banker
NMLS# 630694
198 Route 9 North
Manalapan, NJ 07726
732-241-4015 : Direct
866-475-3094 : e-Fax
National Direct Lender
[email protected]
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