HOMZ - Mortgage rates continue upward trend led by rate increases across all loan types

30-year fixed-rate mortgage averaged 4.42% with an average 0.8 point for the week ending Mar. 24, 2022, up from last week when it averaged 4.16%; higher than 3.17% a year ago, according to the Freddie Mac Primary Mortgage Survey. "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," Chief Economist Sam Khater commented. 15-year fixed-rate mortgage averaged 3.63% with an average 0.8 point, up from last week when it averaged 3.39% and a year ago at this time, the 15-year FRM averaged 2.45%. 5-year Treasury indexed hybrid adjustable-rate mortgage averaged 3.36% with an average 0.3 point, up from last week when it averaged 3.19% and a year ago at this time, the 5-year

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Mortgage rates continue upward trend led by rate increases across all loan types