
Mortgage Rates Continue Climbing, While Applications Decrease In Latest Weekly Surveys
The 30-year fixed-rate mortgage (FRM) averaged 4.67% for the week of March 31, up from 4.42% last week, according to Freddie Mac’s weekly Primary Mortgage Market Survey. A year ago at this time, the 30-year FRM averaged 3.18%. “Mortgage rates continued moving upward in the face of rapidly rising inflation as well as the prospect of strong demand for goods and ongoing supply disruptions,” says Sam Khater, chief economist at Freddie Mac. “Purchase demand has