Mortgage Rates Flat in Latest Week Going into 2022
December 30 2021 - 10:48AM
Dow Jones News
By Adriano Marchese
Average rates on residential mortgages moved sideways in the
week through Thursday, according to government mortgage-finance
company Freddie Mac.
The average 30-year fixed-rate mortgage had a rate of 3.11% for
the week ended Thursday, up slightly from 3.05% a week earlier,
according to Freddie Mac's survey. The rate a year ago was
2.67%.
Fifteen-year mortgages averaged 2.33%, lower than the 2.30%
average last week. Last year at this time, the 15-year mortgage
averaged 2.17%.
The rate on five-year Treasury-indexed hybrid adjustable-rate
mortgages, or ARMs, averaged 2.41% in the latest week, up from
2.37% last week. The five-year ARM averaged 2.71% a year
earlier.
"Mortgage rates have effectively been moving sideways despite
the increase in new Covid cases. This is because incoming economic
data suggests that the economy remains on firm ground, particularly
cyclical industries like manufacturing and housing," Freddie Mac
Chief Economist Sam Khater said.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
December 30, 2021 10:33 ET (15:33 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
Federal Home Loan Mortgage (QB) (USOTC:FMCC)
Historical Stock Chart
From Mar 2024 to Apr 2024
Federal Home Loan Mortgage (QB) (USOTC:FMCC)
Historical Stock Chart
From Apr 2023 to Apr 2024