Mortgage Rates Continued to Decline in the Week Ending August 4, 2022
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Mortgage Rates Drop Below Five Percent
Mortgage Rates Drop Below Five Percent
Freddie Mac has released its Primary Mortgage Market Survey (PMMS) for the week ending August 4, 2022. The PMMS reports that the 30-year fixed-rate mortgage averaged 4.99% with an average 0.8 point, down from last week when it averaged 5.30%. A year ago, at this time, the 30-year FRM averaged 2.77%.
The 15-year fixed-rate mortgage averaged 4.26% with an average 0.6 point, up from last week when it averaged 4.58%. A year ago, at this time, the 15-year FRM averaged 2.10%.
The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 4.25% with an average 0.3 point, down from last week when it averaged 4.29%. A year ago, at this time, the 5-year ARM averaged 2.40%.
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