“Rates resumed their record-setting climb this week, with the 30-year fixed-rate mortgage reaching its highest level since April of 2002,” said
News Facts
- 30-year fixed-rate mortgage averaged 6.92 percent with an average 0.8 point as of
October 13, 2022 , up from last week when it averaged 6.66 percent. A year ago at this time, the 30-year FRM averaged 3.05 percent. - 15-year fixed-rate mortgage averaged 6.09 percent with an average 1.1 point, up from last week when it averaged 5.90 percent. A year ago at this time, the 15-year FRM averaged 2.30 percent.
- 5-year
Treasury -indexed hybrid adjustable-rate mortgage (ARM) averaged 5.81 percent with an average 0.2 point, up from last week when it averaged 5.36 percent. A year ago at this time, the 5-year ARM averaged 2.55 percent.
The PMMS® is focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put 20 percent down and have excellent credit. Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage. Visit the following link for the Definitions. Borrowers may still pay closing costs which are not included in the survey.
NOTE:
MEDIA CONTACT:
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Angela_Waugaman@FreddieMac.com
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Primary Mortgage Market Survey®
U.S. weekly average mortgage rates as of 10/13/2022
2022 GlobeNewswire, Inc., source