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All • December 29, 2022

Mortgage Rates Tick Up

by Rodney Ward

Freddie Mac (OTCQB: FMCC) today (12/29/2022) 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.”

  • 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.
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