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Average 30-Year Fixed-Rate Mortgage At 6.22%

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MCLEAN, Va.--The 30-year fixed-rate mortgage inched up this past week, averaging 6.22%, Freddie Mac reported.

"The 30-year fixed-rate mortgage edged up this week to 6.22% but remains nearly half a percentage point lower than the same time last year," said Sam Khater, Freddie Mac's chief economist. "Potential homebuyers are poised for a more affordable spring homebuying season than last with the market experiencing improvements in purchase applications and pending home sales.”

The 30-year FRM averaged 6.22% as of March 19, up from last week when it averaged 6.11%. A year ago at this time, the 30-year FRM averaged 6.67%. The 15-year FRM averaged 5.54%, up from last week when it averaged 5.50%. A year ago at this time, the 15-year FRM averaged 5.83%.

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