For the week ending August 11, 30-year rates rose to 5.22% from 4.99% the week before.

Mortgage rates rose in the past week, though they fell a bit in response to tamer inflation reports after the survey period came to an end. For the week ending August 11, 30-year rates rose to 5.22% from 4.99% the week before. In addition, 15-year loans increased to 4.59% and the average for five-year ARMs climbed to 4.43%. A year ago, 30-year fixed rates averaged 2.87%, more than 2.00% lower than today. Attributed to Sam Khater, Chief Economist, Freddie Mac, “The 30-year fixed-rate went back up to well over five percent this week, a reminder that recent volatility remains persistent. Although rates continue to fluctuate, recent data suggest that the housing market is stabilizing as it transitions from the surge of activity during the pandemic to a more balanced market. Declines in purchase demand continue to diminish while supply remains fairly tight across most markets. The consequence is that house prices likely will continue to rise, but at a slower pace for the rest of the summer.”  

Note: Rates indicated do not include fees and points and are provided for evidence of trends only. They should not be used for comparison purposes.

Current Indices for Adjustable Rates
Updated August 12, 2022