HOMZ - Mortgage rates narrow down marginally

30-year fixed-rate mortgage averaged 3.89% with an average 0.8 point for the week ending Feb. 24, 2022, marginally down from last week when it averaged 3.92%; higher than 2.97% a year ago, according to the Freddie Mac Primary Mortgage Survey. Over the last six months, rates have increased more than a full percent. "Overall economic growth remains strong, but rising inflation is already impacting consumer sentiment, which has markedly declined in recent months. As we enter the spring homebuying season with higher mortgage rates and continued low inventory, we expect home price growth to remain firm before cooling off later this year," chief economist Sam Khater commented. 15-year fixed-rate mortgage averaged 3.14% with an average 0.7 point, down slightly from last week when it averaged 3.14% and a year ago at this time, the 15-year FRM averaged 2.34%. 5-year Treasury indexed hybrid adjustable-rate mortgage averaged 2.98% with an average 0.3 point, unchanged

For further details see:

Mortgage rates narrow down marginally