Freddie Mac's results of its Primary Mortgage Market Survey® shows that "Following a month-long rise, mortgage rates effectively stayed flat this week. 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. 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."
• 30-year fixed-rate mortgage (FRM) averaged 3.55 percent with an average 0.7 points for the week ending January 27, 2022, up from last month when it averaged 3.05 percent. A year ago, at this time, the 30-year FRM averaged 2.73 percent.
• 15-year FRM this week averaged 2.8 percent with an average 0.6 points, up from last month when it averaged 2.3 percent. A year ago, at this time, the 15-year FRM averaged 2.2 percent.
• 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.7 percent this week with an average 0.2 points, up from last month when it averaged 2.37 percent. A year ago, at this time, the 5-year ARM averaged 2.8 percent.
