Freddie Mac’s Primary Mortgage Market Survey (PMMS) results show that the 30-year fixed-rate mortgage (FRM) averaged 5.54% with an average 0.8 point as of July 21, 2022, up from last week when it averaged 5.51%. A year ago at this time, the 30-year FRM averaged 2.78%.
“The housing market remains sluggish as mortgage rates inch up for a second consecutive week,” observes Sam Khater, Freddie Mac’s chief economist. “Consumer concerns about rising rates, inflation