Freddie Mac: Some mortgage rates back up after weeks of declines

The mortgage giant reports the 30-year fixed-rate average is up again after hitting 20-year high in October.

By Louis Llovio
| 5:00 a.m. January 2, 2023
| 0 Free Articles Remaining!

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After dropping for five consecutive weeks, 30-year mortgage rates climbed the last week of the year.

According to Freddie Mac’s Primary Mortgage Market Survey released Dec. 29, the average 30-year fixed-rate mortgage was 6.42%, up from 6.27% the previous week.

The increase wasn’t much, but it broke a recent streak of drops after the 30-year fixed rate hit 7.08% in October, the first time the rate topped 7% since April 2002.