Freddie Mac

Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey^® (PMMS^®), showing that the 30-year fixed-rate mortgage (FRM) averaged 5.27 percent.

“Mortgage rates resumed their climb this week as the 30-year fixed reached its highest point since 2009,” said Sam Khater, Freddie Mac’s Chief Economist. “While housing affordability and inflationary pressures pose challenges for potential buyers, house price growth will continue but is expected to decelerate in the coming months.”

News Facts

• 30-year fixed-rate mortgage averaged 5.27 percent with an average 0.9 point as of May 5, 2022, up from last week when it averaged 5.10 percent. A year ago at this time, the 30-year FRM averaged 2.96 percent.
• 15-year fixed-rate mortgage averaged 4.52 percent with an average 0.8 point, up from last week when it averaged 4.40 percent. A year ago at this time, the 15-year FRM averaged 2.30 percent.
• 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.96 percent with an average 0.2 point, up from last week when it averaged 3.78 percent. A year ago at this time, the 5-year ARM averaged 2.70 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.