Mortgage Rates Fell This Week, Freddie Mac Says
04 March 2022 - 2:29AM
Dow Jones News
By Matt Grossman
Mortgage rates followed government-bond yields lower in the
latest week, according to housing-finance agency Freddie Mac.
In the week ending Thursday, the average rate on a 30-year
fixed-rate mortgage decreased to 3.76% from 3.89% last week. A year
ago this week, the average rate was 3.02%.
Average 15-year rates were 3.01%, down from 3.14% a week ago,
but up from 2.34% a year ago.
The average rate on a five-year Treasury-indexed hybrid
adjustable-rate mortgage, or ARM, was 2.91%, down from 2.98% last
week. A year ago, the 5-year ARM averaged 2.73%
The Russian invasion of Ukraine has led to geopolitical tensions
and lower yields on U.S. Treasurys, which help set borrowing costs
across the economy.
"While inflationary pressures remain, the cascading impacts of
the war in Ukraine have created market uncertainty," Freddie Mac
Chief Economist Sam Khater said. "Consequently, rates are expected
to stay low in the short term but will likely increase in the
coming months."
Write to Matt Grossman at matt.grossman@wsj.com
(END) Dow Jones Newswires
March 03, 2022 10:14 ET (15:14 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
Federal Home Loan Mortgage (QB) (USOTC:FMCC)
Historical Stock Chart
From Apr 2024 to May 2024
Federal Home Loan Mortgage (QB) (USOTC:FMCC)
Historical Stock Chart
From May 2023 to May 2024
Real-Time news about Federal Home Loan Mortgage Corporation (QB) (OTCMarkets): 0 recent articles
More Federal Home Loan Mortgage Corporation (QB) News Articles