Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS), showing that the 30-year fixed-rate mortgage (FRM) averaged 3.56 percent.
“Mortgage rates moved up again as the 10-year U.S. Treasury yield rose and financial markets adjusted to anticipated changes in monetary policy that will combat inflation,” said Sam Khater, Freddie Mac’s Chief Economist. “As a result of higher mortgage rates, purchase demand has modestly waned in advance of the spring homebuying season. However, supply remains near historically tight levels and home prices remain high, keeping the market competitive.”
News Facts
- 30-year fixed-rate mortgage averaged 3.56 percent with an average 0.7 point for the week ending January 20, 2022, up from last week when it averaged 3.45 percent. A year ago at this time, the 30-year FRM averaged 2.77 percent.
- 15-year fixed-rate mortgage averaged 2.79 percent with an average 0.6 point, up from last week when it averaged 2.62 percent. A year ago at this time, the 15-year FRM averaged 2.21 percent.
- 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.60 percent with an average 0.3 point, up from last week when it averaged 2.57 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 your mortgage lender. You can also find information on mortgage rate information sites online such as Mortgage News Daily.