After almost record-low levels for over a decade, mortgage rates recorded rocket growth considerably in 2022.

Inching closer to their highest point of the year, rates are approaching nearby 6%.

Average fixed rates over 15 years are 5.11%, and average fixed rates over 30 years are 5.89%.

Mortgages with 5/1 adjustable rates typically have interest rates of 4.35%.

The highest annual rate that Freddie Mac ever recorded was 16.63% in 1981; current mortgage interest rates are considerably lower than that rate.

The typical interest rate on a 30-year jumbo loan is now 5.98%, up from last week at this time.

On a 30-year fixed-rate jumbo mortgage, the monthly principal and interest payment for a $100,000 loan are $598.

Before Covid stormed economies worldwide, the typical interest rate for a 30-year fixed-rate mortgage in 2019 was 3.94%.

2021 saw the lowest annual average in 30 years at a rate of 2.96%.

Mortgage rates are currently fluctuating significantly on a daily news cycle.

Thank You

Read Latest Stories

InvestoAxis