{"id":19952,"date":"2022-01-18T13:23:46","date_gmt":"2022-01-18T13:23:46","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=19952"},"modified":"2022-01-18T13:23:46","modified_gmt":"2022-01-18T13:23:46","slug":"mortgage-rates-post-big-jump-this-week","status":"publish","type":"post","link":"https:\/\/www.anthonydidonato.net\/wordpress\/mortgage-rates-post-big-jump-this-week\/","title":{"rendered":"Mortgage Rates Post Big Jump This Week"},"content":{"rendered":"

Mortgage Rates Post Big Jump This Week<\/h1>\n
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Inflation continues to press on mortgage rates. The 30-year fixed-rate mortgage averaged 3.45% this week, up from last week\u2019s 3.22% average, Freddie Mac reports.<\/p>\n

\u201cMortgage rates rose across all mortgage loan types, with the 30-year fixed-rate mortgage increasing by almost a quarter of a percent from last week,\u201d says Sam Khater, Freddie Mac\u2019s chief economist. \u201cThis was driven by the prospect of a faster than expected tightening of monetary policy in response to continued inflation exacerbated by uncertainty in labor and supply chains. The rise in mortgage rates so far this year has not yet affected purchase demand<\/a>, but given the fast pace of home price growth, it will likely dampen demand in the near future.\u201d<\/p>\n

Despite rising mortgage rates, owning a home remains more affordable than renting, the National Association of REALTORS\u00ae reports. The monthly mortgage for owning a median-priced home is $1,260 compared to the average rent of $1,540, NAR notes on its Economists\u2019 Outlook blog.<\/p>\n

Freddie Mac reports the following national averages with mortgage rates for the week ending Jan. 13:<\/p>\n