TPH - Mortgage rates at 5.1% its seventh consecutive week of increase

30-year fixed-rate mortgage averaged 5.11% with an average 0.8 point for the week ending Apr. 21, 2022, up from last week when it averaged 5.00%; higher than 2.97% a year ago, according to the Freddie Mac Primary Mortgage Survey. "While springtime is typically the busiest homebuying season, the upswing in rates has caused some volatility in demand. It continues to be a seller’s market, but buyers who remain interested in purchasing a home may find that competition has moderately softened," chief economist Sam Khater commented. 15-year fixed-rate mortgage averaged 4.38% with an average 0.8 point, up from last week when it averaged 4.17% and a year ago at this time, the 15-year FRM averaged 2.29%. 5-year Treasury indexed hybrid adjustable-rate mortgage averaged 3.75% with an average 0.3 point, up from last week when it averaged 3.69% and a year ago at this time, the 5-year ARM averaged 2.83%. In this week, Freddie

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Mortgage rates at 5.1%, its seventh consecutive week of increase