X

With half of 2024 gone, it's time for our Mid-year review of HSH's 2024 Mortgage and Housing Market Outlook. Have a look and see how we're doing!

With half of 2024 gone, it's time for our Mid-year review of HSH's 2024 Mortgage and Housing Market Outlook. Have a look and see how we're doing!

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 July 2023 to July 2024

Date SOFR 30 Day Average SOFR 90 Day Average SOFR 180 Day Average
Jul-12-2024 5.34000 5.36000 5.39000
Jul-11-2024 5.34000 5.35000 5.39000
Jul-10-2024 5.34000 5.35000 5.39000
Jul-09-2024 5.34000 5.35000 5.39000
Jul-08-2024 5.34000 5.34000 5.39000
Jul-05-2024 5.34000 5.35000 5.39000
Jul-03-2024 5.34000 5.35000 5.39000
Jul-02-2024 5.34000 5.35000 5.39000
Jul-01-2024 5.34000 5.35000 5.39000
Jun-28-2024 5.34000 5.35000 5.35000
Jun-27-2024 5.34000 5.35000 5.39000
Jun-26-2024 5.34000 5.35000 5.39000
Jun-25-2024 5.33000 5.35000 5.39000
Jun-24-2024 5.34000 5.35000 5.39000
Jun-21-2024 5.34000 5.35000 5.39000
Jun-20-2024 5.34000 5.35000 5.39000
Jun-18-2024 5.33000 5.35000 5.39000
Jun-17-2024 5.33000 5.35000 5.39000
Jun-14-2024 5.33000 5.35000 5.39000
Jun-13-2024 5.33000 5.35000 5.39000
Jun-12-2024 5.33000 5.35000 5.39000
Jun-11-2024 5.33000 5.35000 5.39000
Jun-10-2024 5.33000 5.35000 5.39000
Jun-07-2024 5.33000 5.35000 5.39000
Jun-06-2024 5.33000 5.35000 5.39000
Jun-05-2024 5.33000 5.35000 5.39000
Jun-04-2024 5.33000 5.35000 5.39000
Jun-03-2024 5.33000 5.35000 5.39000
May-31-2024 5.32000 5.35000 5.39000
May-30-2024 5.32000 5.35000 5.39000
May-29-2024 5.32000 5.35000 5.39000
May-28-2024 5.32000 5.35000 5.39000
May-24-2024 5.32000 5.35000 5.39000
May-23-2024 5.32000 5.35000 5.39000
May-22-2024 5.32000 5.35000 5.39000
May-21-2024 5.32000 5.35000 5.39000
May-20-2024 5.32000 5.35000 5.39000
May-17-2024 5.32000 5.35000 5.39000
May-16-2024 5.32000 5.35000 5.39000
May-15-2024 5.32000 5.35000 5.39000
May-14-2024 5.32000 5.35000 5.39000
May-13-2024 5.32000 5.35000 5.39000
May-10-2024 5.32000 5.35000 5.39000
May-09-2024 5.32000 5.35000 5.39000
May-08-2024 5.32000 5.35000 5.39000
May-07-2024 5.32000 5.35000 5.39000
May-06-2024 5.32000 5.35000 5.39000
May-03-2024 5.33000 5.35000 5.39000
May-02-2024 5.33000 5.35000 5.39000
May-01-2024 5.33000 5.35000 5.39000
Apr-30-2024 5.33000 5.35000 5.39000
Apr-29-2024 5.33000 5.35000 5.39000
Apr-26-2024 5.33000 5.35000 5.39000
Apr-25-2024 5.33000 5.35000 5.39000
Apr-24-2024 5.33000 5.35000 5.39000
Apr-23-2024 5.33000 5.35000 5.39000
Apr-22-2024 5.33000 5.35000 5.39000
Apr-19-2024 5.33000 5.35000 5.39000
Apr-18-2024 5.33000 5.35000 5.39000
Apr-17-2024 5.33000 5.35000 5.39000
Apr-16-2024 5.33000 5.35000 5.39000
Apr-15-2024 5.33000 5.35000 5.39000
Apr-12-2024 5.33000 5.35000 5.39000
Apr-11-2024 5.33000 5.35000 5.39000
Apr-10-2024 5.33000 5.35000 5.39000
Apr-09-2024 5.33000 5.35000 5.39000
Apr-08-2024 5.33000 5.35000 5.39000
Apr-05-2024 5.33000 5.35000 5.39000
Apr-04-2024 5.33000 5.35000 5.39000
Apr-03-2024 5.33000 5.35000 5.39000
Apr-02-2024 5.33000 5.35000 5.39000
Apr-01-2024 5.33000 5.35000 5.39000
Mar-28-2024 5.32000 5.35000 5.39000
Mar-27-2024 5.32000 5.35000 5.39000
Mar-26-2024 5.32000 5.35000 5.39000
Mar-25-2024 5.32000 5.35000 5.39000
Mar-22-2024 5.32000 5.35000 5.39000
Mar-21-2024 5.32000 5.35000 5.39000
Mar-20-2024 5.32000 5.35000 5.39000
Mar-19-2024 5.32000 5.35000 5.39000
Mar-18-2024 5.32000 5.35000 5.39000
Mar-15-2024 5.32000 5.35000 5.39000
Mar-14-2024 5.32000 5.35000 5.39000
Mar-13-2024 5.32000 5.35000 5.39000
Mar-12-2024 5.32000 5.35000 5.39000
Mar-11-2024 5.32000 5.35000 5.39000
Mar-08-2024 5.32000 5.35000 5.39000
Mar-07-2024 5.32000 5.35000 5.39000
Mar-06-2024 5.32000 5.35000 5.39000
Mar-05-2024 5.32000 5.35000 5.39000
Mar-04-2024 5.32000 5.35000 5.39000
Mar-01-2024 5.32000 5.36000 5.39000
Feb-29-2024 5.32000 5.36000 5.39000
Feb-28-2024 5.32000 5.36000 5.39000
Feb-27-2024 5.32031 5.36000 5.39000
Feb-26-2024 5.32062 5.36000 5.39000
Feb-23-2024 5.32131 5.36000 5.39000
Feb-22-2024 5.32165 5.36000 5.39000
Feb-21-2024 5.32198 5.36000 5.39000
Feb-20-2024 5.32232 5.36000 5.39000
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

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

More ARM Indexes & Info

Add to Homescreen?
X
X
Install this web app on your phone :tap and then Add to homescreen