TOL - Mortgage rates inch higher amid shift in monetary policy guidance

Led by economic improvement and a shift in monetary policy guidance, 30-year fixed-rate mortgage averaged 3.12% with an average 0.7 point for the week ending Dec. 16, 2021, up slightly from last week's 3.10%; higher than year ago the 30-year FRM averaged 2.67%, according to the Freddie Mac Primary Mortgage Survey. "While house price growth is slowing, prices remain high due to solid housing demand and low supply. We expect rates to continue to increase into 2022 which may leave some potential homebuyers with less room in their budgets on the sideline," Freddie Mac's Chief Economist Sam Khater commented. 15-year fixed-rate mortgage averaged 2.34% with an average 0.7 point, down from last week when it averaged 2.38% and a year ago at this time, the 15-year FRM averaged 2.21%. 5-year Treasury indexed hybrid adjustable-rate mortgage averaged 2.45% with an average 0.3 point, unchanged from last week and a year ago at this time, the

For further details see:

Mortgage rates inch higher amid shift in monetary policy guidance