Freddie Mac has released the results of its Primary Mortgage Market Survey (PMMS), showing that the 30-year fixed-rate mortgage (FRM) averaged 5.09% with an average 0.8 point as of June 2, 2022, down slightly from last week when it averaged 5.10%. A year ago at this time, the 30-year FRM averaged 2.99%.
“Mortgage rates continued to inch downward this week but are still significantly higher than last year, affecting affordability and purchase demand,”