2022-04-21 | OTCQB: FMCC | Press release
MCLEAN, Va., April 21, 2022 (GLOBE NEWSWIRE) — Freddie Mac (OTCQB: FMCC) today released the results of its Core Mortgage Market Survey® (PMMS®), showing that the 30-year fixed rate mortgage (FRM) averaged 5.11%.
“Mortgage rates rose for the seventh straight week as Treasury yields continued to rise,” said Sam Khater, chief economist at Freddie Mac’ “As spring is typically the busiest season for purchase of a home, rising rates have led to some volatility in demand. It continues to be a seller’s market, but buyers who remain interested in buying a home may find that the competition has softened moderately.”
- 30-year fixed rate mortgage averaged 5.11% with an average of 0.8 points as of April 21, 2022, up from last week when it averaged 5.00%. A year ago at this time, the 30-year FRM averaged 2.97%.
- 15-year fixed rate mortgage an average of 4.38% with an average of 0.8 points, up from last week when it averaged 4.17%. A year ago at this time, the 15-year FRM averaged 2.29%.
- 5 Year Treasury Indexed Hybrid Variable Rate Mortgage (ARM) averaged 3.75% with an average of 0.3 points, up from last week when it averaged 3.69%. A year ago at this time, the 5-year ARM averaged 2.83%.
PMMS® focuses on conventional, conforming, fully amortized home purchase loans for borrowers who have a 20% down payment and 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 founding by Congress in 1970, we have made housing more accessible and affordable for buyers and renters in communities nationwide. We are building a better housing finance system for buyers, renters, lenders, investors and ratepayers. Learn more at FreddieMac.com, Twitter @FreddieMac and Freddie Mac’s blog FreddieMac.com/blog.
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