General World News

Mortgage rates start 2022 with an increase

The average 30-year fixed rate mortgage increased to 3.22% during the week ending Jan. 6, up from 3.11% the week prior, according to the latest Freddie Mac PMMS Mortgage Survey. A year ago, the 30-year fixed rate mortgage averaged 2.65%.

The 15-year fixed rate mortgage averaged 2.43% last week, up from 2.33% the week prior. A year ago at this time, it averaged 2.16%. Mortgage rates tend to move in concert with the 10-year Treasury yield, which reached 1.75% on Wednesday, up from 1.51% a week before.

This is the second week of mortgage rate increases, after the details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com