Tuesday, January 31, 2023 | The Latest Buzz for the Appraisal Industry

Mortgage Rates Averaged 5.5 Percent Compared to 3 Percent Last Year

Freddie Mac’s Primary Mortgage Market Survey (PMMS) results show that the 30-year fixed-rate mortgage (FRM) averaged 5.25% with an average 0.9 point as of May 19, 2022, down from last week when it averaged 5.30%. A year ago at this time, the 30-year FRM averaged 3%.

“Economic uncertainty is causing mortgage rate volatility,” comments Sam Khater, Freddie Mac’s chief economist. “As a result, purchase demand is waning, and homebuilder sentiment has dropped to the

Jeff Bradford

Discover Your Passion

What are you passionate about? Is it appraising? Do you find that time just flies by when you’re working on an appraisal? Appraising has a

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