Mortgage Rates Rise 03/10/2022

“Following two weeks of declines, mortgage rates rose this week as U.S. Treasury yields increased,” said Sam Khater, Freddie Mac’s Chief Economist. “Over the long-term, we expect rates to continue to rise as inflation broadens and shortages increasingly impact many segments of the economy. However, uncertainty about the war in Ukraine is driving rate volatility that likely will continue in the short-term.”

• The 30-year fixed-rate mortgage averaged 3.85 percent with an average 0.8 point for the week ending March 10, 2022, up from last week when it averaged 3.76 percent. A year ago at this time, the 30-year FRM averaged 3.05 percent.
• The 15-year fixed-rate mortgage averaged 3.09 percent with an average 0.8 point, up from last week when it averaged 3.01 percent. A year ago at this time, the 15-year FRM averaged 2.38 percent.
• 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.97 percent with an average 0.3 point, up from last week when it averaged 2.91 percent. A year ago at this time, the 5-year ARM averaged 2.77 percent.