Freddie Mac's results of its Primary Mortgage Market Survey® shows that "Even with this week's decline, mortgage rates have increased more than a full percent over the last six months. Overall economic growth remains strong, but rising inflation is already impacting consumer sentiment, which has markedly declined in recent months. As we enter the spring homebuying season with higher mortgage rates and continued low inventory, we expect home price growth to remain firm before cooling off later this year."
• 30-year fixed-rate mortgage (FRM) averaged 3.89 percent with an average 0.8 points for the week ending February 24, 2022, up from last month when it averaged 3.55 percent. A year ago, at this time, the 30-year FRM averaged 2.97 percent.
• 15-year FRM this week averaged 31.4 percent with an average 0.7 points, up from last month when it averaged 2.8 percent. A year ago, at this time, the 15-year FRM averaged 2.34 percent.
• 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.98 percent this week with an average 0.3 points, up from last month when it averaged 2.7 percent. A year ago, at this time, the 5-year ARM averaged 2.99 percent.
