Results show that the 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.07 percent this week with an average 0.5 point, down from last week when it averaged 3.11 percent. A year ago, the 5-year ARM averaged 2.71 percent.
Additionally, the 1-year Treasury-indexed ARM averaged 2.63 percent this week with an average 0.4 point, down from last week when it averaged 2.65 percent. At this time last year, the 1-year ARM averaged 2.60 percent.
“These increases in home values have also increased homeowner wealth,” says Nothaft. “For example, homeowners experienced an aggregate $1.4 trillion increase in equity in their homes over the first half of this year which contributed to the overall $4.2 trillion gain in household net worth.”
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