Mortgage Rates Climb Higher in the Week Ending September 29th, Marking Sixth Consecutive Increase
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Mortgage Rates Rise for the Sixth Consecutive Week
Mortgage Rates Rise for the Sixth Consecutive Week
Freddie Mac has released its Primary Mortgage Market Survey (PMMS) for the week ending September 29, 2022. The PMMS reports that the 30-year fixed-rate mortgage (FRM) averaged 6.70% with an average 0.9 point, up from last week when it averaged 6.29%. A year ago at this time, the 30-year FRM averaged 3.01%.
The 15-year FRM averaged 5.96% with an average 1.3 point, up from last week when it averaged 5.44%. A year ago at this time, the 15-year FRM averaged 2.28%.
The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 5.30% with an average 0.4 point, up from last week when it averaged 4.97%. A year ago at this time, the 5-year ARM averaged 2.48%.
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