The 30-Year Fixed-Rate Moves Higher

MCLEAN, Va., Dec. 29, 2022 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged 6.42 percent.

“The housing market remains in the doldrums with declining sales, inventory and prices,” said Sam Khater, Freddie Mac’s Chief Economist. “The declines in sales and deceleration in home prices began swiftly earlier in 2022 but have moderated more recently. While the intensity of weakness is moderating, the market continues to decline and forward leading indicators suggest housing will remain weak throughout the winter.”

News Facts

• 30-year fixed-rate mortgage averaged 6.42 percent as of December 29, 2022, up from last week when it averaged 6.27 percent. A year ago at this time, the 30-year FRM averaged 3.11 percent.
• 15-year fixed-rate mortgage averaged 5.68 percent, down from last week when it averaged 5.69 percent. A year ago at this time, the 15-year FRM averaged 2.33 percent.

The PMMS® is focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put 20 percent down and have excellent credit. For more information, view our Frequently Asked Questions.

Freddie Mac makes home possible for millions of families and individuals by providing mortgage capital to lenders. Since our creation by Congress in 1970, we’ve made housing more accessible and affordable for homebuyers and renters in communities nationwide. We are building a better housing finance system for homebuyers, renters, lenders, investors and taxpayers. Learn more at FreddieMac.com, Twitter @FreddieMac and Freddie Mac’s blog FreddieMac.com/blog.

MEDIA CONTACT:Chad Wandler703-903-2446[email protected]

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/192d5db0-84d2-4854-ab95-8e2c5821b3ae

Primary Mortgage Market Survey®

U.S. weekly average mortgage rates as of 12 29 2022

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