Mortgage Rates Exceed Five Percent 04/21/2022
“Mortgage rates increased for the seventh consecutive week, as Treasury yields continued to rise,” said Sam Khater, Freddie Mac’s Chief Economist. “While springtime is typically the busiest homebuying season, the upswing in rates has caused some volatility in demand. It continues to be a seller’s market, but buyers who remain interested in purchasing a home may find that competition has moderately softened.”
- The 30-year fixed-rate mortgage averaged 5.11 percent with an average 0.8 point as of April 21, 2022, up from last week when it averaged 5.00 percent. A year ago at this time, the 30-year FRM averaged 2.97 percent.
- The 15-year fixed-rate mortgage averaged 4.38 percent with an average 0.8 point, up from last week when it averaged 4.17 percent. A year ago at this time, the 15-year FRM averaged 2.29 percent.
- 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.75 percent with an average 0.3 point, up from last week when it averaged 3.69 percent. A year ago at this time, the 5-year ARM averaged 2.83 percent.
