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Sunday, July 31, 2022

30-Year Mortgage Rates Decrease to 5.13%

by Calculated Risk on 7/31/2022 10:51:00 AM

After reaching 6.28% on June 14th, 30-year mortgage rates decreased to 5.13% on Friday according to The 10-year Treasury yield has fallen to 2.66%, likely due to the weaker economy.

Realtor InventoryHere is a graph from that shows the 30-year mortgage rate since 2017.

Although mortgage rates have fallen sharply over the last 6 weeks, rates are still much higher than earlier this year.

Last year, in July 2021, 30-year mortgage rates average 2.87% according to the Freddie Mac PMMS.  So, rates are up 79% year-over-year!