“Mortgage rates moved up again as the 10-year U.S. Treasury yield rose and financial markets adjusted to anticipated changes in monetary policy that will combat inflation,” said Sam Khater, Freddie Mac’s Chief Economist. “As a result of higher mortgage rates, purchase demand has modestly waned in advance of the spring homebuying season. However, supply remains near historically tight levels and home prices remain high, keeping the market competitive.”
- 30-year fixed-rate mortgage averaged 3.56 percent with an average 0.7 point for the week ending January 20, 2022, up from last week when it averaged 3.45 percent. A year ago at this time, the 30-year FRM averaged 2.77 percent.
- 15-year fixed-rate mortgage averaged 2.79 percent with an average 0.6 point, up from last week when it averaged 2.62 percent. A year ago at this time, the 15-year FRM averaged 2.21 percent.
- 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.60 percent with an average 0.3 point, up from last week when it averaged 2.57 percent. A year ago at this time, the 5-year ARM averaged 2.80 percent.
The PMMS is focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put 20 percent down and have excellent credit. Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage. Visit the following link for the Definitions. Borrowers may still pay closing costs which are not included in the survey.