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Freddie Mac Weekly Rate Survey August 11th, 2022

Freddie Mac Weekly Rate Survey August 11th, 2022

Mortgage Rates Jump Up

August 11, 2022

The 30-year fixed-rate went back up to well over five percent this week, a reminder that recent volatility remains persistent. Although rates continue to fluctuate, recent data suggest that the housing market is stabilizing as it transitions from the surge of activity during the pandemic to a more balanced market. Declines in purchase demand continue to diminish while supply remains fairly tight across most markets. The consequence is that house prices likely will continue to rise, but at a slower pace for the rest of the summer.

 

Primary Mortgage Market Survey®

U.S. weekly averages as of 08/11/2022
30-Yr FRM
5.22%
0.23 1-Wk
2.35 1-Yr
0.7 Fees/Points
15-Yr FRM
4.59%
0.33 1-Wk
2.44 1-Yr
0.7 Fees/Points
5/1-Yr ARM
4.43%
0.18 1-Wk
1.99 1-Yr
0.0 Fees/Points
Zoom
08/11/2021 - 08/11/2022
30Y FRM15Y FRM5/1 ARMRecessions30. Aug25. Oct20. Dec14. Feb11. Apr6. Jun1. Aug1970198019902000201020205.00%1.00%2.00%3.00%4.00%6.00%
Week ending Thursday, Jun 23, 2022
30Y FRM: 5.81%
15Y FRM: 4.92%
5/1 ARM: 4.41%

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.

 

 

Mortgage Rates Drop Below Five Percent

August 4, 2022

Mortgage rates remained volatile due to the tug of war between inflationary pressures and a clear slowdown in economic growth. The high uncertainty surrounding inflation and other factors will likely cause rates to remain variable, especially as the Federal Reserve attempts to navigate the current economic environment.

 

Primary Mortgage Market Survey®

U.S. weekly averages as of 08/04/2022
30-Yr FRM
4.99%
0.31 1-Wk
2.22 1-Yr
0.8 Fees/Points
15-Yr FRM
4.26%
0.32 1-Wk
2.16 1-Yr
0.6 Fees/Points
5/1-Yr ARM
4.25%
0.04 1-Wk
1.85 1-Yr
0.3 Fees/Points
Zoom
08/04/2021 - 08/04/2022
30Y FRM15Y FRM5/1 ARMRecessions23. Aug18. Oct13. Dec7. Feb4. Apr30. May25. Jul1970198019902000201020205.00%1.00%2.00%3.00%4.00%6.00%
Week ending Thursday, Dec 16, 2021
30Y FRM: 3.12%
15Y FRM: 2.34%
5/1 ARM: 2.45%

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.


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