Freddie Mac Today, the (OTC) results from its Primary Mortgage Market Survey® (PMMS®), showing that the 30-year fixed-rate mortgage (FRM) averaged 4.42 percent.

The 30-year fixed rate mortgage rose by over 25% this week as all types of mortgage rates continued their upward trend, according to Sam Khater (Freddie Macs Chief Economics Officer). Inflation, increasing geopolitical uncertainty, and Federal Reserves actions have pushed rates up and reduced consumers’ purchasing power. The combination of rising mortgage rates and continued appreciation in house prices is quickly impacting homebuyers’ ability to stay on top of the market.

News Facts

• Fixed-rate 30-year mortgageAveraged 4.42 percent, with an average of 0.8 points for the week ended March 24, 2022. This is up from 4.16 percent last week. The 30-year FRM was 3.17 percent a year ago.
• Fixed-rate 15-year mortgageAveraged 3.63% with an average of 0.8 points, an increase from the 3.39 percent last week. This was a one-year ago when the average FRM for 15 years was 2.45%.
• Hybrid adjustable-rate 5-year Treasury-indexed mortgageAverage ARM was 3.36% with an average 0.3 percent, up from the 3.19% last week. The 5-year average ARM was 2.84 percent a year ago.

The PMMS® is focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put 20 percent down and have excellent credit. To reflect the upfront costs of the mortgage, the average commitment rate should be listed along with the average fees and points. For more information, visit the link below. Definitions. The survey does not include closing costs. Borrowers could still be responsible for these fees.

Freddie Mac helps lenders and families by making it possible to buy a home. We have made housing affordable and more available for renters and homebuyers across the country since our inception by Congress in 1970. Our goal is to create a more efficient housing finance system that benefits homebuyers and renters as well as lenders, investors, taxpayers, and other stakeholders. More information is available at FreddieMac.comTwitter, (NYSE: @FreddieMacBlog by Freddie Macs FreddieMac.com/blog.

CONTACT MEDIA: Angela Waugaman703-714-0644Angela_Waugaman@FreddieMac.com

You can find a photograph accompanying the announcement at https://www.globenewswire.com/NewsRoom/AttachmentNg/32eeee05-57f4-4edf-854c-c876b99144b1

Source: Freddie Mac

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