News: June 26, 2022. The 30-Year Fixed-Rate Mortgage Averaged 5.81%. It Continues to Increase
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The Primary Mortgage Market Survey® (PMMS®), (reference)showed that the 30-year fixed-rate mortgage (FRM) averaged 5.81% in the last week as reported on June 23, 2022. The previous week it was 5.78%. The last time values like this were reported it was November 2008.
The rise in mortgage rates might find a stop once the demand for houses decreases and/or once the interest rates stabilize.
Nice explanation about mortgage rates