HOMZ - Mortgage rates continue flat trend for second consecutive week

30-year fixed-rate mortgage averaged 3.55% with an average 0.8 point for the week ending Feb. 3, 2022, unchanged from last week; higher than 2.73% a year ago, according to the Freddie Mac Primary Mortgage Survey. "This stagnation reflects the economic impact of the Omicron variant of COVID-19, which we believe will subside in the coming months. As economic recovery continues going into the spring and summer, mortgage rates are expected to resume their upward trajectory," Chief Economist Sam Khater commented. 15-year fixed-rate mortgage averaged 2.77% with an average 0.7 point, down from last week when it averaged 2.80% and a year ago at this time, the 15-year FRM averaged 2.21%. 5-year Treasury indexed hybrid adjustable-rate mortgage averaged 2.71% with an average 0.3 point, up from last week when it averaged 2.70% and a year ago at this time, the 5-year ARM averaged 2.78%. Homebuilding stocks are all trading in the red in

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Mortgage rates continue flat trend for second consecutive week