HOMZ - Mortgage rates unlock the 5% mark first time in a decade

30-year fixed-rate mortgage averaged 5.00% with an average 0.8 point for the week ending Apr. 14, 2022, up from last week when it averaged 4.72%; higher than 3.04% a year ago, according to the Freddie Mac Primary Mortgage Survey. "As Americans contend with historically high inflation, the combination of rising mortgage rates, elevated home prices and tight inventory are making the pursuit of homeownership the most expensive in a generation," Chief economist Sam Khater commented. 15-year fixed-rate mortgage averaged 4.17% with an average 0.9 point, up from last week when it averaged 3.91% and a year ago at this time, the 15-year FRM averaged 2.35%. 5-year Treasury indexed hybrid adjustable-rate mortgage averaged 3.69% with an average 0.3 point, up from last week when it averaged 3.56% and a year ago at this time, the 5-year ARM averaged 2.80%. Homebuilding stocks: (LEN), (TOL), (BLD), (NVR) ETFs Watch: (XHB), (HOMZ), (REM), (REZ)

For further details see:

Mortgage rates unlock the 5% mark first time in a decade