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Thinking about buying a home this spring? You'll want to check out the latest update to the income needed to buy a median-priced home in the top 50 metro areas.

Thinking about buying a home this spring? You'll want to check out the latest update to the income needed to buy a median-priced home in the top 50 metro areas.

ARM Indexes: SOFR - Secured Overnight Financing Rate / SOFR Rate / SOFR Index

SOFR - Secured Overnight Financing Rate is designed as a replacement for LIBOR, which is being retired as a financial index in 2021. Below, we display both current SOFR rates and historical values for SOFR for a range of time periods.

What is SOFR?

SOFR is a broad measure of the cost of borrowing cash overnight collateralized by Treasury securities; values are published by the Federal Reserve Bank of New York.

SOFR Rates

Like LIBOR, SOFR comes in a number of time periods -- an overnight rate and rates that are an average of the previous 30, 90 or 180 days. These longer-period SOFRs are compounded averages of the SOFR over rolling 30-, 90-, and 180-calendar day periods. There is also a base-line index (the "SOFR Index") that can be used to calculate values for custom time periods. This "SOFR Index" measures the cumulative impact of compounding the SOFR on a unit of investment over time, with the initial value set to 1.00000000 on April 2, 2018, the first value date of the SOFR. The SOFR Index value reflects the effect of compounding the SOFR each business day and allows the calculation of compounded SOFR averages over custom time periods.

SOFR is a new index, made officially available starting in March 2020, so there is no lengthy history against which to compare it to the performance of LIBOR or any other available index. Also, although SOFR is a daily index series, HSH.com will be providing the data each Tuesday morning covering the previous five days' worth of values.

Although ARMs tied to SOFR could have any adjustment period, the standard offerings from Fannie Mae and Freddie Mac will be hybrid ARMs that adjust every six months after an initial fixed-rate period of 3-, 5-, 7 or 10 years.

SOFR-based ARMs eligible to be sold to Fannie and Freddie will use the 30-day average of SOFR as a basis for regular interest rate adjustments. However, most ARMs are not sold to Fannie Mae or Freddie Mac, and lenders are free to use other published values of the index such as the 90 day or 180 day versions, and lenders or investors can also create a "custom" SOFR of any time period to suit their needs based on the "SOFR Index" described above.

SOFR ARM Margins

To the SOFR value being used, the lender will add a markup, called a "margin", and the sum of the two becomes your loan's new interest rate. The margin called for in mortgages sold to Fannie Mae or Freddie Mac can be up to 300 basis points; as such, if the index value was 1 percent (100 basis points), the lender would add 300 basis points to it, and your loan's new interest rate would be 4 percent until the next rate adjustment occurs. For loans not sold to Fannie or Freddie, lenders are free to set their own margins and their own adjustment periods.

SOFR ARM Caps

Like other ARMs, SOFR ARMs will also have limiters on how much the interest rate can change at the first adjustment, at each subsequent adjustment and over the life of the loan. These are called "initial", "periodic" and "lifetime" caps.

For SOFR ARMs eligible to be sold the GSEs, those with fixed rate periods of 3 or 5 years have an initial cap that is 2 percentage points (above or below) the original fixed interest rate, followed by a change not more than 1 percent at each six month interval, and the interest rate can never be more than 5 percentage points above the initial rate on the loan (called "2%/1%/5%" caps). For SOFR ARMs with initial fixed-rate periods of 7 or 10 years, the initial cap is 5%, followed by a 1% periodic cap and a 5% lifetime cap ("5%/1%/5%" caps). As such, the initial interest rate could rise all the way to the maximum possible interest rate at the first rate adjustment.

Learn more about how ARMs work.

Although only available in monthly values, indexes comparable to SOFR include the Federal Cost of Funds and possibly the MTA - Moving Treasury Average (sometimes called MAT or 12-MAT).

See a comparison of the One-year Treasury, 30-day SOFR and the MTA and learn more about how they move -- and how it can affect your ARM's interest rate.

L O A D I N G

ARM Indexes: SOFR - Secured Overnight Financing Rate / SOFR Rate / SOFR Index from February 2023 to February 2024

Date SOFR 30 Day Average SOFR 90 Day Average SOFR 180 Day Average
Feb-16-2024 5.32407 5.36000 5.39000
Feb-15-2024 5.32440 5.36000 5.39000
Feb-14-2024 5.32474 5.36000 5.39000
Feb-13-2024 5.32471 5.36000 5.39000
Feb-12-2024 5.32466 5.36000 5.39000
Feb-09-2024 5.32466 5.36000 5.39000
Feb-08-2024 5.32466 5.36000 5.39000
Feb-07-2024 5.32466 5.36000 5.39000
Feb-06-2024 5.32466 5.36000 5.39000
Feb-05-2024 5.32463 5.36000 5.39000
Feb-02-2024 5.32667 5.36000 5.39000
Feb-01-2024 5.32935 5.36000 5.39000
Jan-31-2024 5.33136 5.36000 5.39000
Jan-30-2024 5.33367 5.36000 5.39000
Jan-29-2024 5.33596 5.36000 5.39000
Jan-26-2024 5.34299 5.36000 5.39000
Jan-25-2024 5.34400 5.36000 5.39000
Jan-24-2024 5.34433 5.36000 5.39000
Jan-23-2024 5.34464 5.36000 5.39000
Jan-22-2024 5.34492 5.36000 5.38000
Jan-19-2024 5.34526 5.36000 5.38000
Jan-18-2024 5.34526 5.36000 5.38000
Jan-17-2024 5.34526 5.36000 5.38000
Jan-16-2024 5.34526 5.36000 5.38000
Jan-12-2024 5.34600 5.36000 5.37000
Jan-11-2024 5.34600 5.36000 5.37000
Jan-10-2024 5.34634 5.36000 5.37000
Jan-09-2024 5.34667 5.36000 5.37000
Jan-08-2024 5.34698 5.36000 5.36000
Jan-05-2024 5.34801 5.36000 5.36000
Jan-04-2024 5.34835 5.36000 5.36000
Jan-03-2024 5.34768 5.36000 5.36000
Jan-02-2024 5.34734 5.36000 5.35000
Dec-29-2023 5.34407 5.36000 5.35000
Dec-28-2023 5.34140 5.35000 5.35000
Dec-27-2023 5.33905 5.35000 5.34000
Dec-26-2023 5.33805 5.35000 5.34000
Dec-22-2023 5.33743 5.35000 5.34000
Dec-21-2023 5.33743 5.35000 5.33000
Dec-20-2023 5.33743 5.35000 5.33000
Dec-19-2023 5.33777 5.35000 5.33000
Dec-18-2023 5.33774 5.35000 5.33000
Dec-15-2023 5.33777 5.35000 5.33000
Dec-14-2023 5.33810 5.35000 5.32000
Dec-13-2023 5.33844 5.35000 5.32000
Dec-12-2023 5.33877 5.35000 5.32000
Dec-11-2023 5.33874 5.35000 5.32000
Dec-08-2023 5.33877 5.35000 5.31000
Dec-07-2023 5.33877 5.35000 5.31000
Dec-06-2023 5.33877 5.35000 5.31000
Dec-05-2023 5.33844 5.35000 5.31000
Dec-04-2023 5.33674 5.35000 5.31000
Dec-01-2023 5.33007 5.35000 5.30000
Nov-30-2023 5.33074 5.35000 5.30000
Nov-29-2023 5.33074 5.35000 5.30000
Nov-28-2023 5.33040 5.35000 5.30000
Nov-27-2023 5.33004 5.35000 5.30000
Nov-24-2023 5.32873 5.35000 5.29000
Nov-22-2023 5.32809 5.34000 5.29000
Nov-21-2023 5.32775 5.34000 5.29000
Nov-20-2023 5.32739 5.34000 5.29000
Nov-17-2023 5.32541 5.34000 5.28000
Nov-16-2023 5.32507 5.34000 5.28000
Nov-15-2023 5.32474 5.34000 5.28000
Nov-14-2023 5.32441 5.34000 5.28000
Nov-13-2023 5.32307 5.34000 5.27000
Nov-10-2023 5.32307 5.34000 5.27000
Nov-09-2023 5.32273 5.34000 5.27000
Nov-08-2023 5.32240 5.34000 5.27000
Nov-07-2023 5.32204 5.34000 5.27000
Nov-06-2023 5.32165 5.34000 5.27000
Nov-03-2023 5.32131 5.34000 5.26000
Nov-02-2023 5.32131 5.34000 5.26000
Nov-01-2023 5.32131 5.34000 5.26000
Oct-31-2023 5.31998 5.34000 5.26000
Oct-30-2023 5.31995 5.34000 5.25000
Oct-27-2023 5.32031 5.34000 5.24000
Oct-26-2023 5.32031 5.34000 5.24000
Oct-25-2023 5.32064 5.34000 5.24000
Oct-24-2023 5.32064 5.34000 5.24000
Oct-23-2023 5.32062 5.33000 5.23000
Oct-20-2023 5.32064 5.33000 5.23000
Oct-19-2023 5.32098 5.32000 5.22000
Oct-18-2023 5.32131 5.32000 5.22000
Oct-17-2023 5.32131 5.31714 5.22000
Oct-16-2023 5.32129 5.31433 5.21000
Oct-13-2023 5.32064 5.30568 5.20000
Oct-12-2023 5.32031 5.30274 5.20000
Oct-11-2023 5.31998 5.29992 5.20000
Oct-10-2023 5.31964 5.29700 5.20000
Oct-06-2023 5.31872 5.28578 5.18000
Oct-05-2023 5.31838 5.28284 5.18000
Oct-04-2023 5.31805 5.27991 5.18000
Oct-03-2023 5.31735 5.27688 5.18000
Oct-02-2023 5.31696 5.27395 5.17000
Sep-29-2023 5.31663 5.26619 5.17000
Sep-28-2023 5.31629 5.26370 5.16000
Sep-27-2023 5.31562 5.26077 5.16000
Sep-26-2023 5.31529 5.25796 5.16000
Sep-25-2023 5.31493 5.25503 5.15000
Sep-22-2023 5.31495 5.24661 5.15000
Sep-21-2023 5.31495 5.24378 5.14000
Sep-20-2023 5.31495 5.24097 5.14000
Sep-19-2023 5.31462 5.23804 5.14000
Sep-18-2023 5.31426 5.23511 5.13000
Sep-15-2023 5.31328 5.22634 5.12000
Sep-14-2023 5.31328 5.22350 5.12000
Sep-13-2023 5.31328 5.22080 5.11000
Sep-12-2023 5.31328 5.21799 5.11000
Sep-11-2023 5.31325 5.21517 5.10000
Sep-08-2023 5.31328 5.20675 5.09000
Sep-07-2023 5.31295 5.20381 5.09000
Sep-06-2023 5.31295 5.20099 5.08000
Sep-05-2023 5.31261 5.19807 5.08000
Sep-01-2023 5.31135 5.18697 5.06000
Aug-31-2023 5.31135 5.18426 5.06000
Aug-30-2023 5.31169 5.18178 5.05000
Aug-29-2023 5.31169 5.17930 5.05000
Aug-28-2023 5.31166 5.17660 5.04000
Aug-25-2023 5.30399 5.16850 5.03000
Aug-24-2023 5.29595 5.16578 5.03000
Aug-23-2023 5.28758 5.16308 5.02000
Aug-22-2023 5.27921 5.16026 5.02000
Aug-21-2023 5.27082 5.15745 5.01000
Aug-18-2023 5.24608 5.14903 5.00000
Aug-17-2023 5.23805 5.14620 5.00000
Aug-16-2023 5.23001 5.14339 4.99000
Aug-15-2023 5.22165 5.14057 4.99000
Aug-14-2023 5.21325 5.13776 4.98000
Aug-11-2023 5.18851 5.12945 4.97000
Aug-10-2023 5.18048 5.12662 4.97000
Aug-09-2023 5.17245 5.12381 4.96000
Aug-08-2023 5.16441 5.12111 4.96000
Aug-07-2023 5.15636 5.11841 4.95000
Aug-04-2023 5.13229 5.11033 4.94000
Aug-03-2023 5.12426 5.10761 4.94000
Aug-02-2023 5.11620 5.10491 4.93000
Aug-01-2023 5.10884 5.09929 4.93000
Jul-31-2023 5.10145 5.09366 4.92000
Jul-28-2023 5.07838 5.07714 4.90532
Jul-27-2023 5.06968 5.07150 4.89957
Jul-26-2023 5.06935 5.06869 4.89524
Jul-25-2023 5.06901 5.06576 4.89091
Jul-24-2023 5.06899 5.06295 4.88670
Jul-21-2023 5.06901 5.05453 4.87391
Jul-20-2023 5.06868 5.05159 4.86958
Jul-19-2023 5.06868 5.04878 4.86531
Jul-18-2023 5.06832 5.04585 4.86104
Jul-17-2023 5.06794 5.04293 4.85672
Jul-14-2023 5.06827 5.03451 4.84398
Jul-13-2023 5.06794 5.03157 4.83965
Jul-12-2023 5.06794 5.02876 4.83538
Jul-11-2023 5.06760 5.02583 4.83105
Jul-10-2023 5.06724 5.02291 4.82673
Jul-07-2023 5.06626 5.01449 4.81394
Jul-06-2023 5.06593 5.01166 4.80967
Jul-05-2023 5.06593 5.00883 4.80540
Jul-03-2023 5.06660 5.00343 4.79682
Jun-30-2023 5.06528 4.99569 4.78340
Jun-29-2023 5.06528 4.99354 4.77907
Jun-28-2023 5.06528 4.99084 4.77474
Jun-27-2023 5.06560 4.98836 4.77048
Jun-26-2023 5.06588 4.98600 4.76621
Jun-23-2023 5.06655 4.97769 4.75342
Jun-22-2023 5.06655 4.97487 4.74915
Jun-21-2023 5.06655 4.97206 4.74488
Jun-20-2023 5.06655 4.96643 4.74061
Jun-16-2023 5.06662 4.94398 4.72369
Jun-15-2023 5.06629 4.93823 4.71948
Jun-14-2023 5.06662 4.93283 4.71533
Jun-13-2023 5.06662 4.92755 4.71118
Jun-12-2023 5.06660 4.92192 4.70407
Jun-09-2023 5.06696 4.90507 4.68276
Jun-08-2023 5.06729 4.89944 4.67565
Jun-07-2023 5.06763 4.89381 4.66854
Jun-06-2023 5.06796 4.88819 4.66144
Jun-05-2023 5.06794 4.88246 4.65427
Jun-02-2023 5.05859 4.86493 4.63275
Jun-01-2023 5.04955 4.85896 4.62552
May-31-2023 5.04052 4.85300 4.61830
May-30-2023 5.03215 4.84726 4.61126
May-26-2023 4.99843 4.82437 4.58281
May-25-2023 4.98972 4.81862 4.57565
May-24-2023 4.98136 4.81300 4.56854
May-23-2023 4.97299 4.80738 4.56138
May-22-2023 4.96460 4.80176 4.55422
May-19-2023 4.93953 4.78490 4.53293
May-18-2023 4.93116 4.77926 4.52583
May-17-2023 4.92280 4.77363 4.51872
May-16-2023 4.91443 4.76801 4.51162
May-15-2023 4.90571 4.76228 4.50452
May-12-2023 4.88064 4.74543 4.48306
May-11-2023 4.87227 4.73980 4.47585
May-10-2023 4.86391 4.73407 4.46858
May-09-2023 4.85554 4.72834 4.46130
May-08-2023 4.84715 4.72260 4.45403
May-05-2023 4.82202 4.70542 4.43235
May-04-2023 4.81432 4.69968 4.42520
May-03-2023 4.81533 4.69687 4.41946
May-02-2023 4.81734 4.69125 4.41372
May-01-2023 4.81932 4.68563 4.40373
Apr-28-2023 4.82000 4.66845 4.37377
Apr-27-2023 4.82000 4.66270 4.36378
Apr-26-2023 4.82000 4.65708 4.35384
Apr-25-2023 4.82000 4.65158 4.34385
Apr-24-2023 4.82000 4.64596 4.33380
Apr-21-2023 4.82000 4.62911 4.30345
Apr-20-2023 4.81000 4.62348 4.29335
Apr-19-2023 4.80000 4.61798 4.28325
Apr-18-2023 4.79000 4.61236 4.27321
Apr-17-2023 4.78000 4.60685 4.26322
Apr-14-2023 4.76000 4.59000 4.23334
Apr-13-2023 4.75000 4.58436 4.22335
Apr-12-2023 4.74000 4.57874 4.21337
Apr-11-2023 4.73000 4.57313 4.20338
Apr-10-2023 4.72000 4.56751 4.19335
Apr-06-2023 4.69000 4.54506 4.15344
Apr-05-2023 4.68000 4.53944 4.14346
Apr-04-2023 4.67000 4.53349 4.13336
Apr-03-2023 4.66000 4.52753 4.12316
Mar-31-2023 4.63004 4.50833 4.09148
Mar-30-2023 4.62101 4.50247 4.08105
Mar-29-2023 4.61164 4.49651 4.07056
Mar-28-2023 4.60194 4.49045 4.05990
Mar-27-2023 4.59322 4.48472 4.04953
Mar-24-2023 4.56815 4.46787 4.01871
Mar-23-2023 4.55979 4.46224 4.00846
Mar-22-2023 4.55979 4.45943 3.99961
Mar-21-2023 4.55977 4.45662 3.99078
Mar-20-2023 4.55973 4.45381 3.97774
Mar-17-2023 4.55973 4.44585 3.93895
Mar-16-2023 4.55906 4.44303 3.92592
Mar-15-2023 4.55806 4.44011 3.91284
Mar-14-2023 4.55806 4.43168 3.89998
Mar-13-2023 4.55804 4.42326 3.88707
Mar-10-2023 4.55806 4.39800 3.84852
Mar-09-2023 4.55806 4.38957 3.83566
Mar-08-2023 4.55806 4.38114 3.82281
Mar-07-2023 4.55806 4.37272 3.80996
Mar-06-2023 4.55804 4.36430 3.79711
Mar-03-2023 4.55037 4.33938 3.75874
Mar-02-2023 4.54234 4.33106 3.74595
Mar-01-2023 4.53397 4.32286 3.73316
Feb-28-2023 4.52561 4.31466 3.72037
Feb-27-2023 4.51723 4.30636 3.70759
Feb-24-2023 4.49249 4.28110 3.66912
Feb-23-2023 4.48413 4.27267 3.65628
Feb-22-2023 4.47577 4.26414 3.64344
Feb-21-2023 4.46740 4.25560 3.63060
Feb-17-2023 4.43435 4.22195 3.57916
Feb-16-2023 4.42632 4.21352 3.56632

3-Month TCM
6-Month TCM
1-Year TCM

More ARM Indexes & Info

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