HOMZ - Mortgage rates rise after two consecutive week of declines

30-year fixed-rate mortgage averaged 3.85% with an average 0.8 point for the week ending Mar. 10, 2022, up from last week when it averaged 3.76%; higher than 3.05% a year ago, according to the Freddie Mac Primary Mortgage Survey. Rates rose amid volatility of the U.S. economy brought by inflation and Russia's war in Ukraine. "Over the long-term, we expect rates to continue to rise as inflation broadens and shortages increasingly impact many segments of the economy. However, uncertainty about the war in Ukraine is driving rate volatility that likely will continue in the short-term," chief economist Sam Khater commented. The 10-year Treasury yield reached 1.94% yesterday, compared to 1.86% on the previous Wednesday. 15-year fixed-rate mortgage averaged 3.09% with an average 0.8 point, up from last week when it averaged 3.01% and a year ago at this time, the 15-year FRM averaged 2.38%. 5-year Treasury indexed hybrid adjustable-rate mortgage averaged 2.97% with an

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Mortgage rates rise after two consecutive week of declines