Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®) for the week ending 04/14/2022, showing that the 30-year fixed-rate mortgage (FRM) averaged 5.00 percent.
“This week, mortgage rates averaged five percent for the first time in over a decade,” said Sam Khater, Freddie Mac’s Chief Economist. “As Americans contend with historically high inflation, the combination of rising mortgage rates, elevated home prices and tight inventory are making the pursuit of homeownership the most expensive in a generation.”
- 30-year fixed-rate mortgage averaged 5.00 percent with an average 0.8 point as of April 14, 2022, up from last week when it averaged 4.72 percent. A year ago at this time, the 30-year FRM averaged 3.04 percent.
- 15-year fixed-rate mortgage averaged 4.17 percent with an average 0.9 point, up from last week when it averaged 3.91 percent. A year ago at this time, the 15-year FRM averaged 2.35 percent.
- 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.69 percent with an average 0.3 point, up from last week when it averaged 3.56 percent. A year ago at this time, the 5-year ARM averaged 2.80 percent.
For more information on daily mortgage interest rate movements, check with you mortgage lender. You can also find information at online sites such as Mortgage News Daily.