Skip to main content

Mortgage Rates Hold Steady

Steve Goode
Apr 28, 2022
Freddie Mac

30-year fixed rate mortgage at 5.10%

Mortgage rates held steady this week, breaking a seven-week streak of increases.

According to Freddie Mac’s weekly Primary Mortgage Market Survey released today, 30-year fixed rate mortgages averaged 5.1%, down slightly from last week when it averaged 5.11%. A year ago at this time the 30-year FRM averaged at 2.98%.

According to the report the 15-year fixed-rate mortgage averaged 4.4%, up from 4.38%. A year ago at this time the 15-year FRM averaged 2.31%.

Also, the 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.78% up slightly from last week’s 3.75%. Last year at this time the 5-year ARM averaged 2.64%. 

“The combination of swift home price growth and the fastest mortgage rate increase in over 40 years is finally affecting purchase demand,” said Sam Khater, Freddie Mac’s chief economist. “Homebuyers navigating the current environment are coping in a variety of ways, including switching to adjustable-rate mortgages, moving away from expensive coastal cities, and looking to more affordable suburbs. We expect the decline in demand to soften home price growth to a more sustainable pace later this year.”

Published
Apr 28, 2022
Buyer-Seller Stalemate Increases Housing Market Supply

The market may not stay calm for very long, though.

Analysis and Data
Dec 09, 2022
Mortgage Credit Availability Increased In November

The Mortgage Credit Availability Index increased, indicating loosening credit.

Analysis and Data
Dec 09, 2022
Mortgage Rates Fall For 4th Straight Week

The 4-week decline is the largest since 2008.

Analysis and Data
Dec 09, 2022
HouseCanary: Housing Market Declining Sharply

Elevated interest rates paired with housing market seasonality has driven declines in new inventory and listings.

Analysis and Data
Dec 09, 2022
Ginnie Mae Has Doubled The Proportion Of VA Loans In Its Portfolio

In report to Congress, agency says VA loans have risen to 45% of its MBS portfolio over 10 years.

Regulation and Compliance
Dec 08, 2022
More Home Builders Offered Price Cuts, Incentives In November

NAHB says the percentage offering deals remains below 2008 levels.

Analysis and Data
Dec 07, 2022