TOL - Mortgage rates surge to highest level since pandemic 3.69%

30-year fixed-rate mortgage averaged 3.69% with an average 0.8 point for the week ending Feb. 10, 2022, up from last week when it averaged 3.55%; higher than 2.73% a year ago, according to the Freddie Mac Primary Mortgage Survey. Rates have jumped to the highest level since the emergence of the pandemic; "Rate increases are expected to continue due to a strong labor market and high inflation, which likely will have an adverse impact on homebuyer demand," chief economist Sam Khater commented. 15-year fixed-rate mortgage averaged 2.93% with an average 0.8 point, up from last week when it averaged 2.77% and a year ago at this time, the 15-year FRM averaged 2.19%. 5-year Treasury indexed hybrid adjustable-rate mortgage averaged 2.80% with an average 0.3 point, up from last week when it averaged 2.71% and a year ago at this time, the 5-year ARM averaged 2.79%. Homebuilding stocks are all trading in the red

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Mortgage rates surge to highest level since pandemic, 3.69%