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News: May 5, 2022. The 30-Year Fixed-Rate Mortgage Averaged 5.27%. It is Increasing Fast
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@marcusantoniu26
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The Primary Mortgage Market Survey® (PMMS®), (reference)showed that the 30-year fixed-rate mortgage (FRM) averaged 5.27% in the last week as reported on May 5, 2022. The previous week it was 5.10%. The last time values like this were reported it was August 2009.
The rise in mortgage rates has to do with an overall increase in interest rates, which, at the same time, is related to the increase in the inflation rate. The rate of increase is very fast too.
