April 2022 Interest Rate Update
The Federal Reserve’s March meeting ended on Wednesday with policymakers signaling that surging inflation along with a tight labor market could warrant a half-point rate hike at future meetings.
This type of “hawkish” tone from the Fed along with increased inflation statistics has moved the benchmark 10 year Treasury from 1.33% a year ago to 2.65% at the close of the market today.
This is still low from a historical standpoint. We thought that the charts below would point this out. The current market for fixed-rate loans looks like the following:
- 3-year fixed from 3.50-4.50%
- 5-year fixed from 3.90-5.00%
- 10-year fixed from 3.90-5.00%
- 15-year fixed from 4.00-5.00%
- 20-year fixed from 4.25-5.25%