Freddie Mac's results of its Primary Mortgage Market Survey® shows that "This week, the 30-year fixed-rate mortgage increased by more than a quarter of a percent as mortgage rates across all loan types continued to move up. Rising inflation, escalating geopolitical uncertainty and the Federal Reserve’s actions are driving rates higher and weakening consumers’ purchasing power. In short, the rise in mortgage rates, combined with continued house price appreciation, is increasing monthly mortgage payments and quickly affecting homebuyers’ ability to keep up with the market."
• 30-year fixed-rate mortgage (FRM) averaged 4.42 percent with an average 0.8 points for the week ending March 24, 2022, up from last month when it averaged 3.89 percent. A year ago, at this time, the 30-year FRM averaged 3.17 percent.
• 15-year FRM this week averaged 3.63 percent with an average 0.8 points, up from last month when it averaged 3.14 percent. A year ago, at this time, the 15-year FRM averaged 2.45 percent.
• 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.36 percent this week with an average 0.3 points, up from last month when it averaged 2.98 percent. A year ago, at this time, the 5-year ARM averaged 2.84 percent.
