Mortgage Rates Continue to Push Higher in the Week Ending October 20th
Original Source:
Mortgage Rates Slow Their Upward Trajectory
Mortgage Rates Slow Their Upward Trajectory
Freddie Mac has released its Primary Mortgage Market Survey (PMMS) for the week ending October 20, 2022. The PMMS reports that the 30-year fixed-rate mortgage (FRM) averaged 6.94% with an average 0.9 point, up from last week when it averaged 6.92%. A year ago at this time, the 30-year FRM averaged 3.09%.
The 15-year FRM averaged 6.23% with an average 1.1 point, up from last week when it averaged 6.09%. A year ago at this time, the 15-year FRM averaged 2.33%.
The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 5.71% with an average 0.4 point, down from last week when it averaged 5.81. A year ago at this time, the 5-year ARM averaged 2.54%.
FEA compiles the Wood Markets News from various 3rd party sources to provide readers with the latest news impacting forest product markets. Opinions or views expressed in these articles do not necessarily represent those of FEA.