Purchase mortgage rates continue their roller coaster ride – they moved above 5% this week, according to the latest purchase mortgage survey from Freddie Mac.

The 30-year fixed-rate mortgage increased this week to average 5.22%, up from last week’s 4.99%. A year ago this time, rates averaged 2.77%. The index compiles rates reported by lenders during the past three days.   

“The 30-year fixed-rate went back up to well over 5% this week, a reminder that recent volatility remains persistent,” Sam Khater, chief economist at Freddie Mac, said in a statement.

Mortgage rates tend to align with the 10-year U.S Treasury yield, which details ⇒

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