RISMedia
  • News
  • Premier
  • Publications
  • Events
  • Education
  • Newsmakers
  • Power Broker
No Result
View All Result
  • Agents
  • Brokers
  • Teams
  • Marketing
  • Coaching
  • Technology
  • More
    • Headliners New
    • Luxury
    • Best Practices
    • Consumer
    • National
    • Our Editors
Join Premier
Sign In
RISMedia
  • News
  • Premier
  • Publications
  • Events
  • Education
  • Newsmakers
  • Power Broker
No Result
View All Result
RISMedia
No Result
View All Result

Up, Up and Away…Mortgage Rates Rise Again

Home Agents
By RISMedia Staff
April 1, 2022
Reading Time: 2 mins read
Up, Up and Away…Mortgage Rates Rise Again

Mortgage rates shot up again this week amid continued rising inflation and ongoing supply disruptions, according to the latest data from Freddie Mac released Thursday.

The results of its Primary Mortgage Market Survey® (PMMS®), show the 30-year fixed-rate mortgage (FRM) averaged 4.67% this week, up from 4.42% last week. 

This week’s data:

  • 30-year fixed-rate mortgageaveraged 4.67 percent with an average 0.8 point for the week ending March 31, 2022, up from last week when it averaged 4.42 percent. A year ago at this time, the 30-year FRM averaged 3.18 percent.
  • 15-year fixed-rate mortgageaveraged 3.83 percent with an average 0.8 point, up from last week when it averaged 3.63 percent. A year ago at this time, the 15-year FRM averaged 2.45 percent.
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage(ARM) averaged 3.50 percent with an average 0.3 point, up from last week when it averaged 3.36 percent. A year ago at this time, the 5-year ARM averaged 2.84 percent.

The takeaway:

“Mortgage rates continued moving upward in the face of rapidly rising inflation as well as the prospect of strong demand for goods and ongoing supply disruptions,” said Sam Khater, Freddie Mac’s Chief Economist. “Purchase demand has weakened modestly but has continued to outpace expectations. This is largely due to unmet demand from first-time homebuyers as well as a select few who had been waiting for rates to hit a cyclical low.”

Danielle Hale, chief economist for Realtor.com, commented:

“The Freddie Mac fixed rate for a 30-year loan increased again this week. Continuing on the recent trajectory, would have mortgage rates hitting 5% within a matter of weeks, but longer-term rates have receded somewhat this week as investors reassess the economic outlook. A very strong labor market in which job openings and worker quits remain near highs is making it difficult for firms to hire the workers that they need. This could slow the pace at which mortgage rates reach that 5% milestone, granting a temporary reprieve to home shoppers hoping to find a home and lock in a rate before they trend higher.

Tags: Danielle HaleFeatureFreddie MacHome PricesMortgage Ratesrealtor.com®Sam Khater
ShareTweetShare

RISMedia Staff

Related Posts

Real Estate in the Metaverse: Where Virtual Meets Reality
Agents

Real Estate in the Metaverse: Where Virtual Meets Reality

May 17, 2022
Annual Rent Growth Hits One-Year Record High in March
Agents

Annual Rent Growth Hits One-Year Record High in March

May 17, 2022
Share of Mortgage Loans in Forbearance Decreases to 0.94% in April
Agents

Share of Mortgage Loans in Forbearance Decreases to 0.94% in April

May 17, 2022
IDX Broker Expands Client Services to Incorporate IXACT CRM
Agents

IDX Broker Expands Client Services to Incorporate IXACT CRM

May 17, 2022
Giving Back a Priority for Thriving Fort Lauderdale Team
Agents

Giving Back a Priority for Thriving Fort Lauderdale Team

May 17, 2022
Four Ways Real Estate Team Leaders Can Overcome Leadership Loneliness
Agents

Four Ways Real Estate Team Leaders Can Overcome Leadership Loneliness

May 17, 2022

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Tip of the Day

How Agents Turn Low Home Inventory Into a Marketing Advantage

By targeting the right prospects, creative messaging, and using proven marketing tactics, you can break through the crowded marketplace and... See How

Business Tip of the Day provided by
REGISTER NOW

Recent Posts

  • Real Estate in the Metaverse: Where Virtual Meets Reality
  • Annual Rent Growth Hits One-Year Record High in March
  • Share of Mortgage Loans in Forbearance Decreases to 0.94% in April

Categories

  • Spotlights
  • Best Practices
  • Advice
  • Marketing
  • Technology
  • Social Media

The Most Important Real Estate News & Events

Click below to receive the latest real estate news and events directly to your inbox.

Sign Up
By signing up, you agree to our TOS and Privacy Policy.

About Blog Our Products Our Team Contact Advertise/Sponsor Media Kitt Email Whitelist Terms & Policies

© 2022 RISMedia. All Rights Reserved. Design by Real Estate Webmasters.

No Result
View All Result
  • Home
  • Premier
  • News
    • Agents
    • Brokers
    • Teams
    • Consumer
    • Marketing
    • Coaching
    • Technology
    • Headliners New
    • Luxury
    • Best Practices
    • National
    • Our Editors
  • Publications
    • Real Estate Magazine
    • Past Issues
    • Custom Covers
  • Events
    • Upcoming Events
    • Podcasts
    • Event Coverage
  • Education
    • Get Licensed
    • REALTOR® Courses
    • Continuing Education
    • Luxury Designation
    • Real Estate Tools
  • Newsmakers
    • 2022 Newsmakers
    • 2021 Newsmakers
    • 2020 Newsmakers
    • 2019 Newsmakers
  • Power Broker
    • 2022 Power Broker
    • 2021 Power Broker
    • 2020 Power Broker
    • 2019 Power Broker
  • Join Premier
  • Sign In

© 2022 RISMedia. All Rights Reserved. Design by Real Estate Webmasters.

RISMEDIA PREMIER CONTENT

INSIGHTS THAT ELEVATE YOUR VALUE

logo-rismedia-white
x