Monday, October 2, 2023 | The Latest Buzz for the Appraisal Industry

Freddie Mac: Affordability Persists as Top Obstacle to Homeownership

Freddie Mac’s Primary Mortgage Market Survey (PMMS) results show that the 30-year fixed-rate mortgage (FRM) averaged 5.51% with an average 0.8 point as of July 14, 2022, up from last week when it averaged 5.30%. A year ago at this time, the 30-year FRM averaged 2.88%.

“Mortgage rates are volatile as economic growth slows due to fiscal and monetary drags,” observes Sam Khater, Freddie Mac’s Chief Economist. “With rates the highest in over a

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