Friday, 30 September 2022 | The Latest Buzz for the Appraisal Industry

Mortgage Rates Decrease by 0.15 Percent Over Last Week

Freddie Mac’s results of its Primary Mortgage Market Survey (PMMS) shows that the 30-year fixed-rate mortgage (FRM) averaged 5.10% with an average 0.9 point as of May 26, 2022, down from last week when it averaged 5.25%. A year ago at this time, the 30-year FRM averaged 2.95%.

“Mortgage rates decreased for the second week in a row due to multiple headwinds that the economy is facing,” says Sam Khater, Freddie Mac’s chief economist.

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