Tuesday, 4 October 2022 | 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

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