Residential News » Washington D.C. Edition | By David Barley | November 8, 2022 8:27 AM ET
Based on Freddie Mac's latest Primary Mortgage Market Survey, the 30-year fixed-rate mortgage averaged 6.95 percent in the United States.
"Mortgage rates continue to hover around seven percent, as the dynamics of a once-hot housing market have faded considerably," said Sam Khater, Freddie Mac's Chief Economist. "Unsure buyers navigating an unpredictable landscape keeps demand declining while other potential buyers remain sidelined from an affordability standpoint. Yesterday's interest rate hike by the Federal Reserve will certainly inject additional lead into the heels of the housing market."
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