“Mortgage rates are volatile as economic growth slows due to fiscal and monetary drags,” said Sam Khater, Freddie Mac’s Chief Economist. “With rates the highest in over a decade, home prices at escalated levels, and inflation continuing to impact consumers, affordability remains the main obstacle to homeownership for many Americans.”

*30-year fixed-rate mortgage averaged 5.51 percent with an average 0.8 point as of July 14, 2022, up from last week when it averaged 5.30 percent. A year ago at this time, they averaged 2.88 percent.

*15-year fixed-rate mortgage averaged 4.67 percent with an average 0.8 point, up from last week when it averaged 4.45 percent. A year ago at this time, they averaged 2.22 percent.

*5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 4.35 percent with an average 0.2 point, up from last week when it averaged 4.19 percent. A year ago at this time, they averaged 2.47 percent.

Source: Freddie Mac