News: April 13, 2022. The 30-Year Fixed-Rate Mortgage Averaged 4.72%. It Does Not Stop Increasing

The Primary Mortgage Market Survey® (PMMS®), (reference)showed that the 30-year fixed-rate mortgage (FRM) averaged 4.72% in the week ending April 7, 2022. The previous week it was 4.67%. The last time values like this were reported it was December 2018.

There is still a pressure towards increased rates due to increased interest rates in general. We will see if the reduction in demand caused by increased housing prices, together with a decreased purchasing power of people are enough to slow down the increase in rates.