Sunday, 7 August 2022 | The Latest Buzz for the Appraisal Industry

Freddie Mac Observes Mortgage Rate Decline Due to High Inflation, Economic Downturn

Freddie Mac’s latest Primary Mortgage Market Survey (PMMS) results shows the 30-year fixed-rate mortgage averaged 5.70% with an average 0.9 point as of June 30, 2022, down from last week when it averaged 5.81%. A year ago at this time, the 30-year FRM averaged 2.98%.

“The rapid rise in mortgage rates has finally paused, largely due to the countervailing forces of high inflation and the increasing possibility of an economic recession,” says Sam Khater,

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