Jan. 27, 2022 Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing that the 30-year fixed-rate mortgage (FRM) averaged 3.55 percent.
“Following a month-long rise, mortgage rates effectively stayed flat this week,” said Sam Khater, Freddie Mac’s Chief Economist. “Recent rate increases have yet to significantly impact purchase demand, as history demonstrates that potential homebuyers who are on the fence will often enter the market at the start of rate increase cycles.”
Khater continued, “We do expect rates to continue to increase but at a more gradual pace. Therefore, a fair number of current homeowners could continue to benefit from refinancing to lower their mortgage payment.”
News Facts
- 30-year fixed-rate mortgage averaged 3.55 percent with an average 0.7 point for the week ending January 27, 2022, down slightly from last week when it averaged 3.56 percent. A year ago at this time, the 30-year FRM averaged 2.73 percent.
- 15-year fixed-rate mortgage averaged 2.80 percent with an average 0.6 point, up slightly from last week when it averaged 2.79 percent. A year ago at this time, the 15-year FRM averaged 2.20 percent.
- 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.70 percent with an average 0.2 point, up from last week when it averaged 2.60 percent. A year ago at this time, the 5-year ARM averaged 2.80 percent.
For more information on mortgage interest rate movements, check with your mortgage loan provider or with online mortgage rate information sites such as Mortgage News Daily.