“Mortgage rates rose across all mortgage loan types, with the 30-year fixed-rate mortgage increasing by almost a quarter of a percent from last week,” said Sam Khater, Freddie Mac’s Chief Economist. “This was driven by the prospect of a faster than expected tightening of monetary policy in response to continued inflation exacerbated by uncertainty in labor and supply chains. The rise in mortgage rates so far this year has not yet affected purchase demand, but given the fast pace of home price growth, it will likely dampen demand in the near future.”
- 30-year fixed-rate mortgage averaged 3.45 percent with an average 0.7 point for the week ending January 13, 2022, up from last week when it averaged 3.22 percent. A year ago at this time, the 30-year FRM averaged 2.79 percent.
- 15-year fixed-rate mortgage averaged 2.62 percent with an average 0.7 point, up from last week when it averaged 2.43 percent. A year ago at this time, the 15-year FRM averaged 2.23 percent.
- 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.57 percent with an average 0.3 point, up from last week when it averaged 2.41 percent. A year ago at this time, the 5-year ARM averaged 3.12 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.
Freddie Mac makes home possible for millions of families and individuals by providing mortgage capital to lenders. Since our creation by Congress in 1970, we’ve made housing more accessible and affordable for homebuyers and renters in communities nationwide. We are building a better housing finance system for homebuyers, renters, lenders, investors and taxpayers. Learn more at FreddieMac.com, Twitter @FreddieMac and Freddie Mac’s blog FreddieMac.com/blog.