Freddie Mac has released the results of its Primary Mortgage Market Survey (PMMS), showing that the 30-year fixed-rate mortgage (FRM) averaged 3.14%.
“The yield on the 10-year Treasury note has been trending up due to the decline in new COVID cases, increasing consumer optimism, as well as broadening inflation and persistent shortages,” says Sam Khater, Freddie Mac’s chief economist. “Mortgage rates are also rising, but purchase demand remains firm, showing that latent purchase demand