MCLEAN, Va. – Freddie Mac yesterday released the results of its Primary Mortgage Market Survey®, showing that the 30-year fixed-rate mortgage (FRM) averaged 3.92 percent.
“Mortgage rates jumped again due to high inflation and stronger than expected consumer spending,” said 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 homebuyers, especially as inflation threatens to place a strain on consumer budgets.”
Mortgage Rate Facts
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