HOMZ - Mortgage rates continue moving higher on the 4% curve

30-year fixed-rate mortgage averaged 4.72% with an average 0.8 point for the week ending Apr. 7, 2022, up from last week when it averaged 4.67%; higher than 3.13% a year ago, according to the Freddie Mac Primary Mortgage Survey. Mortgage rates have increased 1.5 percentage points over the last three months alone, the fastest three-month rise since May of 1994. The increase in mortgage rates has softened purchase activity such that the monthly payment for those looking to buy a home has risen by at least 20 percent from a year ago," chief economist Sam Khater commented. 15-year fixed-rate mortgage averaged 3.91% with an average 0.8 point, up from last week when it averaged 3.83% and a year ago at this time, the 15-year FRM averaged 2.42%. 5-year Treasury indexed hybrid adjustable-rate mortgage averaged 3.56% with an average 0.3 point, up from last week when it averaged 3.50% and a year ago

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Mortgage rates continue moving higher on the 4% curve