The 30-year fixed-rate mortgage averaged 3.92% with an average 0.8 point for the week ending February 17, 2022, up from last week when it averaged 3.69%, shows Freddie Mac’s Primary Mortgage Market Survey. A year ago at this time, the 30-year FRM averaged 2.81%.
“Mortgage rates jumped again due to high inflation and stronger than expected consumer spending,” states Sam Khater, Freddie Mac’s chief economist. “The 30-year fixed-rate mortgage is nearing four percent, reaching highs we have not seen since May 2019. As rates and house prices rise, affordability has become a substantial hurdle for potential home buyers, especially as inflation threatens to place a strain on consumer budgets.”
“Mortgage rates jumped again due to high inflation and stronger than expected consumer spending,” states Sam Khater, Freddie Mac’s chief economist. “The 30-year fixed-rate mortgage is nearing four percent, reaching highs we have not seen since May 2019. As rates and house prices rise, affordability has become a substantial hurdle for potential home buyers, especially as inflation threatens to place a strain on consumer budgets.”
Freddie Mac Chief Economist Explains Rising Mortgage Rates in Last Week - MortgageOrb
The 30-year fixed-rate mortgage averaged 3.92% with an average 0.8 point for the week ending February 17, 2022, up from last week when it averaged 3.69%, shows Freddie Mac’s Primary Mortgage Market Survey. A year ago at this time, the 30-year FRM averaged 2.81%. “Mortgage rates jumped again due...
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