News: February 12, 2022. The 30-Year Fixed-Rate Mortgage Averaged 3.69% Highest Since January 2020

The Primary Mortgage Market Survey® (PMMS®), (reference)showed that the 30-year fixed-rate mortgage (FRM) averaged 3.69 percent in the week ending February 10, 2022. The previous week it was 3.55%. The value represents the highest since January 2020.

The rate increase may be related to the increase in inflation rate and due to the relatively good jobs report. These events can trigger an increase in the Federal Reserve interest rate. People could be trying to buy houses before the interest rate rises further.

This post is intended to only raise awareness. In order to make actual financial decisions please contact your financial advisor and/or tax advisor prior to making the decision.