Freddie Mac has released its Primary Mortgage Market Survey (PMMS) for the week ending July 28, 2022. The PMMS reports that the 30-year fixed-rate mortgage (FRM) averaged 5.30% with an average 0.8 point, down from last week when it averaged 5.54%. A year ago, at this time, the 30-year FRM averaged 2.80%.
The 15-year fixed-rate mortgage averaged 4.58% with an average 0.8 point, up from last week when it averaged 4.75%. A year ago, at this time, the 15-year FRM averaged 2.10%.
The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 4.29% with an average 0.3 point, down from last week when it averaged 4.31%. A year ago, at this time, the 5-year ARM averaged 2.45%.
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.
Mortgage Rates Continue to Fluctuate