Mortgage Rates Rise Again, Freddie Mac Says
April 21 2022 - 10:29AM
Dow Jones News
By Will Feuer
Mortgage rates rose again in the latest week, according to
housing-finance agency Freddie Mac.
In the week ending Thursday, the average rate on a 30-year
fixed-rate mortgage rose to 5.11% from 5% last week. A year ago
this week, the average rate was 2.97%.
Average 15-year rates were 4.38%, up from 4.17% a week ago and
2.29% a year ago.
The average rate on a five-year Treasury-indexed hybrid
adjustable-rate mortgage, or ARM, was 3.75%, up from 3.69% last
week. A year ago, the five-year ARM averaged 2.83%.
"Mortgage rates increased for the seventh consecutive week, as
Treasury yields continued to rise," Freddie Mac Chief Economist Sam
Khater said. "While springtime is typically the busiest homebuying
season, the upswing in rates has caused some volatility in demand.
It continues to be a seller's market, but buyers who remain
interested in purchasing a home may find that competition has
moderately softened."
Write to Will Feuer at Will.Feuer@wsj.com
(END) Dow Jones Newswires
April 21, 2022 10:14 ET (14:14 GMT)
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