Mortgage rates have trended down recently, though they remain more than three percentage points higher than they were a year ago, according to Freddie Mac.
"The market may be thawing since mortgage rates have fallen for five straight weeks," NAR chief economist Lawrence Yun said in a press release.
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15-year fixed mortgage ratesThe average 15-year fixed mortgage rate is 5.69%, an increase from the prior week, according to Freddie Mac data.
Mortgage rates have increased dramatically so far in 2022, but there are signs that they may finally have peaked.