Mortgage Rates Continued to Move Lower – in Week Ending 7th July 2022

Freddie Mac has released its Primary Mortgage Market Survey (PMMS) for the week ending July 7^th , 2022. The PMMS reports that the 30-year fixed-rate mortgage averaged 5.30% with an average 0.8 point, down from last week when it averaged 5.70%. A year ago, at this time, the 30-year FRM averaged 2.90%.

The 15-year fixed-mortgage rate averaged 4.45% with an average 0.8 point, down from last week when it averaged 4.83%. A year ago, at this time, the 15-year FRM averaged 2.20%.

The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 4.19 with an average 0.4 point, down from last week when it averaged 4.50%. A year ago, at this time, the 5-year ARM averaged 2.52%.